The recent death of Osama Bin Laden sparked a small reaction on the international markets with oil prices dropping slightly and the DAX and the Down Jones spiking during their trading sessions, this had however been forgotten by the end of the trading day.

The complete opposite of what happened on September 11th 2001, putting aside the obvious physical factors involved  that resulted in the New York Stock Exchange closing until the following Monday the market affect was massive. Recent figures have also revealed it to be the largest insured events ever with pay outs for building damage alone reaching $40 billion. Liability insurance payouts also totalled almost $10 billion

The FT reported that during the attacks almost 20,000 small businesses were destroyed or unable to trade in the first 3 months after the atrocity, prompting  an increase in the need for business support services to see companies through the difficult period. FT reports Bin Laden news failed to lift global equity markets it had been hoping for. Dave Shellock observed that Wall Street gained early on then fell back, on the basis that most analysts took the view that the death of the al-Qaeda leader would have only a short-term effect and that aside from any initial euphoria the killing of bin Laden is unlikely to have any long-term financial market impact. The initial rise had been tempered by other less optimistic new such as recent report from City analysts who like City of London business consultants are warning of economic problems in the UK and global retail industry. By way of an example, Fashion retailer, Next, announced record sales increases for April 2011, which experts have put down to the recent run of Bank Holidays and the Royal Wedding, but the Leicester based firm has warned that it expects May to be the worst month for trading since September 2009.

iBlog by PageLines