European Stock Markets Fall After Terror Attacks in French City of Nice

Paris-France (July 15)  The French Mediterranean town of Nice was rocked by a suspected terrorist attack last night leaving 84 dead and scores injured. A large truck ploughed into crowds celebrating Bastille Day, a public holiday marking the French Revolution. The driver of the truck was shot dead by police. Authorities said the man, who is a 31-year old resident of Nice with dual French-Tunisian nationality, was firing into the crowds as he drove. They have also said that the truck was filled with weapons and grenades.

Witnesses say the driver was zigzagging to ensure he hit as many people as possible during the attack. More than 50 children have been admitted to hospital with injuries.

French President Francois Hollande said the attack was "terrorist in nature". No group has claimed responsibility for the attack. Hollande has extended the country's state-emergency for a further three months.

France has been under a state of emergency since November last year when Islamic extremists attacked France's capital Paris killing 130 people.

French Prime Minister Manuel Valls said there will be three days of national mourning starting from Saturday.

The attack in Nice is the third terrorist attack in France since January 2015, when extremists forced their way into the office of weekly satirical newspaper Charlie Hebdo, killing 11 and injuring 11 others.

Two Americans have been named among the victims, Buzzfeed has identified them as Sean Copeland and his son Brodie from Texas.

President Barack Obama has condemned the attack "in the strongest terms."

The Cac 40 in Paris was recently down 0.78% at 4,351.25. The Dax was down 0.53% at 10,015.21 and in London the FTSE 100 was down 0.37% at 6,629.80.

Source: TheStreet