At ten past two the AEX was 1.6% lower at 561 points, after having dropped a bottom of 557.3 points around eleven. The AMX fell 1% to 805.3 points. The price signs in London (-1.5%), Frankfurt (-1%) and Paris (-1.7%) also turned dark red.
Judging by the futures, the stock exchanges in New York are expected to open at half past three from 0.3% lower to 0.2% higher.
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 AEX ABN Amro with a minus of 4% at the bottom. The bank’s share rose sharply earlier this week after tough interventions at the investment bank.
Galapagos was written down by 3.9%. The biotechnology company had just recovered from a few miserable weeks in recent days.
Aegon lost 3.5%. The insurer plummeted more than 15% on Thursday after disappointing quarterly figures.
Air France KLM (-5.5%) 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.
Flow Traders took the lead with an increase of 4%. 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.
PostNL climbed 2.4%. Asset manager Jefferies increased the target price for the mail and parcel deliverer from € 1.80 to € 2.60 with an unchanged ‘keep’ advice.
Pharming rose 2.3%. In recent days, the biopharmaceutical had partly handed back the nice profit from Monday. Then it became known that research into the effect of his medicine had started in a larger group of patients.
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:
Would you like to receive the most important financial news by email every day? Then sign up for the daily DFT Newsletter.