Markets are calm in the aftermath of the London terror attack

LONDON — European markets are placid on Thursday morning as investors digest the terror attack perpetrated in London on Wednesday, and wait for a vote in the United States House of Representatives later in the day on the proposed overhaul of the Affordable Care Act, also known as Obamacare.

Five people, including a police officer, have died and at least 40 were injured in Wednesday’s attack, but markets are seemingly looking beyond the events. In previous attacks in recent years, such as Brussels and Paris, European stocks saw a significant drop before rallying, but the pattern following the London attacks is so far different.

In the equity markets, Britain’s benchmark share index, the FTSE 100 has dropped a little on the day, down 0.15% to 7,313 points as of 8.15 a.m. GMT (4.15 a.m. ET), as the chart below illustrates:

Share moves from the vast majority of companies are relatively small, with the FTSE’s biggest faller Kingfisher — down 2% after a poor set of results on Wednesday — and the biggest winner, Tesco, up 1.2%.

Across Europe, the picture is fairly similar, with equities lower, but not by any significant margin. Here is the scoreboard:

In the currency markets, the pound is also little moved on the day so far, climbing 0.04% against the dollar to trade at $US1.2490. Later in the morning it could be impacted by the latest retail sales figures. Should sales grow quicker than expected, sterling would likely rise, with the opposite outcome pushing the pound lower. 

Here is how the pound looks:

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