Insurer Aegon is falling hard on Damrak

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Published on 13 augustus 2020 18:05 |
Views: 8.533| Topics:, insurance

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Aegon
10:35

2,46
-0,09
(-3,49%)

AEX
10:50

557,97
-11,98
(-2,10%)

AMSTERDAM (AFN) – Aegon fell hard on the stock exchange in Amsterdam on Thursday, and pulled the AEX index down. Investors were disappointed to see the insurer’s withdrawal of financial targets. The other European stock markets also took a step back after the recent strong rise. Elsewhere in Europe, large companies such as Carlsberg, Deutsche Telekom, RWE, TUI and Thyssenkrupp came up with figures.

Aegon was the big loser in the AEX with a price drop of more than 15 percent. The insurer saw its net profit fall sharply in the first half of the year due to the corona crisis and withdrew its financial expectations for 2020 and next year. The company is also cutting the dividend. At the end of the year, the new CEO Lard Friese, who took office in May, will present the new financial goals.

Partly due to Aegon’s significant price loss, the main index at Damrak closed 0.9 percent lower at 569.95 points. The MidKap fell 0.3 percent to 813.13 points. Paris, Frankfurt and London lost up to 1.5 percent.

Shell

There were more strong losers in Amsterdam. Oil and gas company Shell, for example, fell 3.7 percent. The International Energy Agency (IEA) lowered its expectations for oil demand due to the ongoing slump in the aviation sector.

Thyssenkrupp lost 16 percent in Frankfurt. The German steel and industry concern was hit hard by the corona crisis in the past quarter. The malaise in the car industry, its main sales market, in particular, put performance under pressure. TUI (minus 6.2 percent) is also severely affected by the virus outbreak. The travel company had almost no income last quarter due to the travel restrictions to prevent the spread of the corona virus.

Deutsche Telekom

Deutsche Telekom climbed more than 1 percent. The parent company of T-Mobile Netherlands raised expectations for this year. In Copenhagen Carlsberg fell about 6 percent. The Danish brewer foresees a sharply lower profit this year as a result of the corona crisis.

Airbus in Paris also fell more than 2 percent. The American government is sticking to the higher import tax on aircraft from the aircraft manufacturer. As a result, attempts at rapprochement on the European side in the protracted conflict with the United States over Airbus have so far proved fruitless.

The euro was worth $ 1.1820 against $ 1.1794 a day earlier. A barrel of American oil cost 0.6 percent less at $ 42.42. Brent oil also became 0.6 percent cheaper, at $ 45.16 a barrel.

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  1. Shell went ex-dividend today.

  2. frankvl wrote down 13 augustus 2020 19:48:

    Shell went ex-dividend today.

    € 0.16 will not be the reason

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