LIVE MARKETS-Airline stocks fall, energy gains

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AIRLINE STOCKS FALL, ENERGY GAINS

The first near hour of European trading has been pretty much what you'd have expected with oil prices up over 5% after Israel launched widescale strikes against Iran.

Stocks are down fairly sharply, the Stoxx 600 is off 0.8%, with airlines taking the biggest hit.

The travel and leisure index .SXTP is down 2.8%, with companies like IAG ICAG.L and Easyjet EZJ.L each down over 4%.

Energy is the only sub sector in the green, up 1.4%. .SXEP

Oslo listed oil transportation firm Frontline FRO.OL is at the top of the Stoxx 600 up nearly 7%. BP BP.L and Total TTEF.PA are both up over 2%.

Defence names like SAAB SAAB.ST and BAE systems BAE.L are also outperforming.

(Alun John)

EARLIER LIVE MARKETS POSTS:

EUROPE BEFORE THE BELL: FUTURES TUMBLE ON ISRAEL'S STRIKE ON IRAN CLICK HERE