At ten past twelve, the AEX was 1.9% lower at 559 points. The AMX fell 1.3% to 802.8 points. The price signs in London (-2.3%), Frankfurt (-1.3%) and Paris (-2.2%) also turned dark red.
The stock exchanges in New York are expected to open 0.2% to 0.6% in the minus, judging by the futures.
Investment advisor Rein Schutte of Noesis Capital Management points out that it was not only concerns about the corona virus that came back to investors’ minds. Investors ignored the many difficulties earlier this month. For example, tensions between the US and China are likely to increase in the run-up to the US elections. And the political bickering around the new American stimulus program continues. ”
Although President Nancy Pelosi of the US House of Representatives said on Thursday evening that the ideas on this between both parties are miles apart, Schutte is confident that an agreement will not be long in coming. “They want to show their muscles, but they will eventually come out.”
Disappointing economic news from China, where retail sales fell 1.1% in July, also did not help sentiment. It also turned out that the Dutch economy contracted by 8.5% in the past quarter.
Ended up in the completely red AEX Aegon with a loss of 4.5% at the bottom. The insurer plummeted more than 15% on Thursday after disappointing quarterly figures.
ABN Amro fell 4.3%. The bank’s share rose sharply earlier this week after tough interventions at the investment bank.
Biotechnology company Galapagos was written down by 3.9%. The AEX was also pushed by heavyweight Royal Dutch Shell (-3%).
Air France KLM (-5%) was the largest drop in medium-sized funds. Investors were shocked by the decision of the United Kingdom that travelers from countries such as France and the Netherlands are obliged to be in self-isolation for fourteen days. France has meanwhile announced countermeasures. The fact that Paris and the area around Marseille have been declared ‘red’ zones with a high risk of corona infections, did not help Air France KLM’s course either.
PostNL was the biggest winner with an increase of 3.1. Asset manager Jefferies increased the target price for the mail and parcel deliverer from € 1.80 to € 2.60 with an unchanged ‘keep’ advice.
Flow Traders plus 1.8%. The trading house again benefited in the second quarter from increased trading volumes due to turmoil in the financial markets during the corona crisis. However, that advantage was considerably less than in the first three months of the year, when the large price drop in March caused many additional trade movements.
How has the government approached the corona crisis so far? And how should Rutte and co. deal with this historic decline in the budget that will be published on Budget Day? Martin Visser talks about it in a new episode of the podcast Issue of pennies:
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