Around 11 a.m. the AEX index was 2.2% lower at 557.7 points. The AMX fell 1.7% to 799.5 points. The price signs in London (-2%), Paris (-2%) and Frankfurt (-1.2%) also turned red.
Elsewhere, equity markets showed a mixed picture. The Japanese Nikkei index closed 0.2% higher this morning. On Wall Street, the Dow Jones index ended 0.3% in the red. Network giant Cisco made a price drop of more than 11% after disappointing quarterly figures. Nasdaq tech exchange went up 0.3% on the day. The stock exchanges in New York are expected to open 0.2% to 0.8% in the min.
Investors were still awaiting the extension of the bailout package for Americans affected by the corona crisis. No fewer than 322,000 jobs were lost in the Netherlands in the past quarter. This morning also showed that the Dutch economy shrank by 8.5% in the past quarter.
In the completely red AEX was ABN Amro (-5%) the biggest loser. The bank’s share rose sharply earlier this week after tough interventions at the investment bank.
Aegon fell 3.6%. The insurer plummeted more than 15% on Thursday after disappointing quarterly figures.
Real estate fund Unibail-Rodamco-Westfield also gave up 3.6%. Steelmaker ArcelorMittal was written down 3.2%. The AEX was also pushed by heavyweight Royal Dutch Shell (-3,2%).
In de AMX was PostNL the biggest winner with an increase of 2.8% to € 2.49. 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 2.1%. 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.
Air France KLM (-5.5%) was the largest drop in medium-sized funds. Aviation stocks were also under pressure elsewhere in Europe. 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 was already threatening the British with 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.
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