The AEX index closed 0.5% lower at 548.92 points. The AMX rose 0.02% to 801.44 points. The price signs in London (-0.5%), Paris (-0.2%) and Frankfurt (-0.4%) turned red.
According to experts, the strong price gains on Monday were partly due to the rebalancing of investment portfolios. Because equities performed much worse than bonds in September, the weighting had fallen below the desired size and institutional parties bought extra. Even today, this provided support for the stock markets. “Things rebounded quickly as soon as pressure came,” stated asset manager Renco van Schie (Valuedge).
The US stock markets dropped 0.1% to 0.6% at the end of the afternoon, after the pluses of 1.5% to 1.9% on Monday. Investors were waiting for the first TV debate between US presidential candidates Joe Biden and Donald Trump to take place next night. “The uncertainty surrounding the elections is troubling the stock markets,” said Ralph Wessels, head of investment strategy at ABN Amro.
However, a hot topic, according to Wessels, is whether the emergency aid in the US will be extended for victims of the corona crisis. “The markets have benefited in recent months from the liberal policies of central banks. But the Fed is a bit played out at the moment. That is why it is imperative that the Republicans and Democrats make a deal on this. That can give the stock exchanges a boost. ”
In the AEX was Unibail-Rodamco-Westfield with a loss of 5.4% at the bottom. The retail property fund announced that its shareholders will be able to comment on plans to strengthen its financial position on 10 November.
The bank shares ABN Amro (-3.2%) in ING (-2%) declined, partly in response to price target cuts by the British bank HSBC to € 11 and € 6.30 respectively. The insurers ASR (-2.3%) in Aegon (-2,3%) were also among the laggards.
Stock market heavyweight Royal Dutch Shell fell 2.7% due to the falling oil price. According to the British newspaper The Times the energy giant will come up with a further interpretation of the previously announced reorganization on Wednesday.
Manufacturer AkzoNobel (+ 1.1%) was the biggest winner among the main funds. Philips rose 0.9%. The medical technology company is taking the Dutch State to court for an order for the supply of defibrillators due to alleged errors in the tendering procedure.
ArcelorMittal added 0.5% to Monday’s 10.9% gain. The steel group then announced that it would sell its American branch. The chip funds ASML (+ 1.1%) in ASMI (+ 0.9%) were also happy.
In the case of medium-sized funds lost Air France KLM 2.8% on € 2.85, after a recommendation reduction to sales by HSBC. The bank has reduced the target price to € 2.50. Real estate fund Eurocommercial much 4.1%.
Signify was the biggest climber in the AMX. The lighting manufacturer traded 2.8% higher.
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