Attack On Nice Deals Another Blow To European Travel

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* Travel stocks fall after attack in French city of Nice

* Swatch shares slump after profit warning

* Richemont shares also dragged lower by Swatch

By Sudip Kar-Gupta

LONDON, July 15 (Reuters) - The shares of European travel and leisure companies fell on Friday, weighing on the region's stock markets, after an attack in the French city of Nice that killed more than 80 people.

A gunman at the wheel of a heavy truck ploughed into a crowd celebrating Bastille Day in Nice late on Thursday, killing at least 84 people and injuring scores more in what French President Francois Hollande called a terrorist act.

The pan-European STOXX 600 index slipped 0.1 percent, with France's CAC equity index down by 0.2 percent.

The STOXX Europe 600 Travel & Leisure index dropped by around 1 percent.

dropped by between 1.2 and 2.7 percent. >" data-reactid="20">French hotels operator Accor, Europe's largest hotel group, fell 3 percent, while shares in airlines such as Air France-KLM, easyJet and French airports' operator Aeroports de Paris dropped by between 1.2 and 2.7 percent. >?>

"I don't hold any of the European travel stocks. There's too much competition and margins are low," said Clairinvest fund manager Ion-Marc Valahu.

Another Paris-based analyst said the attack in Nice would deal a new blow to French hotels and tourism companies, which had only just started to recover after Islamist militant attacks in Paris on Nov. 13, 2015, which killed 130 people.

"Hotels and restaurants have barely recovered from a difficult period. This is a new blow, especially in summer," said the analyst, who declined to be named.

Shares in Swiss luxury goods companies Swatch and Richemont also slumped after Swatch issued a profit warning.

Swatch shares tumbled more than 10 percent while Richemont shares fell 4 percent.

The pan-European STOXX 600 index is down by around 7 percent this year.

(Additional reporting by Raphael Bloch in Paris and Atul Prakash in London)

Source : https://finance.yahoo.com/news/travel-stocks-fall-france-attack-083122737.html

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Attack On Nice Deals Another Blow To European Travel

Source:Salon

Attack On Nice Deals Another Blow To European Travel