2014.07.2200:48:19UTC+00European shares fall on down on Russia-Ukraine turmoil

European shares fell on Monday’s trading session with the ongoing geopolitical tension over at Ukraine and Gaza regarding the downed Malaysia Airlines plane planting worries on investors.

The pan-European FTSEurofirst 300  provisionally lost 0.5% at 1,356 pips with majority of the sectors and European markets declining. UK’s FTSE 100 is provisionally down by 0.31% or 21.01 pips to 6,728.44. Germany’s DAX and France’s CAC 40 lost 1.11% or 107.97 pips to 9,612.05 and 0.7% respectively. The IBEX 35 decreased by 0.43% or 45 pips to 10,482.

UK’s largest retailer, Tesco, inched up by 1.3% following an announcement that Chief Executive Philip Clarke will resign following the issuance of a profit warning. Julius Baer shed 8.3% after the Swiss private banking group reported a better-than-expected earnings. It also intends to takeover the Swiss private banking unit of Israeli lender, Leumi.

Russia is facing a slew of problems as further sanctions are to be discussed later in the day by eurozone’s foreign ministers following an initial imposition of sanctions from the US government and the European Union and the tragic downing of a passenger jet on last Thursday that is hurting sentiments on the Russian economy.

The world is watching Russia as their role in the plane’s fate is questioned. US Secretary of State John Kerry commented in the previous day in an announcement yesterday that the missile used by the Ukrainian rebels that downed the plane was provided by Russia as per circumstantial evidence shows. Meanwhile, in the statement of Russian President Vladimir Putin today, he says that the shooting down of the Malaysian Airlines flight shouldn't be taken advantage of as a tool for political agenda.