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France declares war on IS

Published Tuesday, November 17th, 2015

“France is at war”. President Hollande left commentators in no doubt as to the country’s response to Friday’s attacks in Paris in a speech to French parliamentarians as it stepped up its efforts to combat the threat posed by Islamic State. Overnight raids and arrests were swiftly made while French retaliatory air strikes in Syria continued for a second day in actions that were called by the French Interior Minister as “just the beginning”. Calls for other nations to join the global fight against Jihadist terrorism are now expected to grow louder as France takes the lead in destroying IS.

Resilience was very much the theme across global financial markets yesterday as jitters over the fallout from the weekend’s atrocities proved to be short-lived. European stocks eked out modest gains after reversing an early bout of weakness while rebounding US crude prices bolstered energy shares and helped Wall St bounce more than 1%.

Investor concerns were once again largely focused on the health of the global economy which was dealt a blow after 3Q GDP figures confirmed that Japan had slipped back into recession for the fourth time in only five years. Elsewhere, a modest upward revision to the eurozone’s annual inflation rate did little to change the underlying fragility of the bloc’s economy as the prospect of additional ECB stimulus next month remained firmly on the cards.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.