Iraqi military forces and Kurdish fighters worked with US air support to re-take the Mosul dam, and are currently attempting to push the Islamic State militants back out of Iraq. US President Barack Obama says that the United States will continue to use air strikes in the region when it is appropriate.
Meanwhile, in the Ukraine heavy fighting has been reported in the Luhansk area, one of two areas that remains a stronghold for pro-Russian separatists. The military in the Ukraine has advanced into the region and captured several small towns, along with one major district. The death toll for the conflict is now over 2,000, and several hundred thousand civlians have been displaced.
These continuing tensions are putting a lot of pressure on equities, and this is reflected in the global markets. The biggest losers of the day in the FTSE 100 were Mondi Plc, down 2.1%, British American Tobacco, down 1.86%, and Barratt Developments, who lost 1.95%. The biggest gainers of the day were Kingfisher, Wolseley and Centrica.
The FTSE 100 is still hovering close to 6,800, and there is hope that if it can break past the 6,834 level in the next few days it could continue to push upwards to new highs on the strength of the recent rebound.