U.S. Markets close in 1 hr 37 mins

Markets Still Worried by Geopolitical Tensions, but London Gets Boost from Tesco

TheStreet

European markets trading lower again on Monday, on worries over potential new sanctions on Russia over its behavior in the Ukraine and Israel’s continued operations in Gaza. Russian market drops 1.4% on sanctions fears. London focused on supermarkets. Tesco plc leads the risers, as the sudden departure of CEO Philip Clarke and the appointment of Unilever’s head of Personal Care, David Lewis raises hopes of a turnaround. Lewis is the first outsider to head the company in its 95 year history. But the move hits shares at rival supermarkets J.Sainsbury and William Morrison. British housebuilders take a hit as survey shows growth in U.K. residential prices slows in June. Dutch technology group Philips sinks on disappointing results, but telecom group KPN gets former Dutch finance minister as Finance Director.