Financial markets seek to assess cost of tsunamis

[emad]

Financial Times
By Michael Morgan, Peter Garnham and Kevin Allison
Published: December 28 2004 02:00 | Last updated: December 28 2004 02:00

Financial markets put on a resilient display yesterday as analysts and investors struggled to put a price on the economic impact of the tsunamis in south and south-east Asia on Sunday.


Insurance and travel related stocks bore the brunt of the the day's selling, but Europe's largest insurers maintained that it was still too early to assess the cost.

Wall Street edged ahead in morning trade as a fall in world oil prices overrode concerns about events in south and south-east Asia. In late morning trade, the Dow Jones Industrial Average was 0.3 per cent higher at 10,859.12.

European markets edged lower, although trade was patchy, with the London market closed for an extended Christmas break.

http://news.ft.com/cms/s/93358806-5875-11d9-9940-00000e2511c8.html

[liberalhistorian]

1. Here we go with the

financial aspect of disasters again. Aren't there more important things to worry about, like 45,000 dead, thousands homeless, no food or water for survivors, high chances of disease and infection, etc.? WHY does everything always have to come down to money and be seen in terms of economics?????????