European markets cautious as Nato summit begins

Emma Haslett
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David Cameron did not rule out air strikes on Islamic State (Source: Getty)

European markets took a break from recent rallies as the leaders of Nato countries prepared to meet at the Celtic Manor resort in Wales this morning.

Having hit its highest level in 14 years yesterday, the FTSE 100 rose a modest 0.1 per cent to 6,880 in early trading, while France's Cac fell 0.4 per cent and Germany's Dax fell 0.5 per cent. The euro rose 0.05 per cent against the dollar, while sterling rose 0.04 per cent.

Meanwhile, David Cameron told the BBC he "will not rule out" air strikes on the Islamic State in Syria.

We should pursue our national interests. The most important thing to consider is that we mustn't see this as something where you have a Western intervention over the heads of neighbouring states and leaving others to pick up the pieces.

A special invitation to attend the summit was extended to Ukraine president Petro Poroshenko to allow him to update leaders on his negotiations with the Russian president. Yesterday Poroshenko tweeted that the two countries had reached a "permanent ceasefire" agreement, but that was later quashed by Russia.

Yesterday it was reported 15 nations including the US and the UK were planning to send 1,200 soldiers into Ukraine for two weeks of war games.

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