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Traders from the ICF Bank in Frankfurt have expressed their concerns and made predictions for the financial markets after a US airstrike in Iraq killed Iran’s Quds Force General Qassem Soleimani on Friday.
ICF Bank trader Arthur Brunner confirmed that the markets “reacted very nervously” to the news in the Middle East.
“Oil price rose two and a half per cent, the gold [price] rose one per cent,” Brunner said.
The biggest loser on the German stock exchange DAX was Lufthansa, with shares falling 6.5 per cent.
“We will see in the afternoon that in America the airlines will even be the biggest losers,” he continued.
Oil prices rises “frighten” airline companies, who’s biggest cost factor is kerosene.
Soleimani was killed in an airstrike at Baghdad’s international airport in the early hours of Friday morning, alongside Jamal Jafaar Mohammed Ali Ebrahimi, the leader of Iraq’s Popular Mobilization Forces (Hashd al-Shaabi).
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