Economy

Financials out of favor on red Damrak | Financial

After two winning days in a row, the AEX index recorded a 0.5% decline at 517.8 points. The AMX index then headed 0.8% in the red at 694.5 points.

Major stock exchanges in Europe also suffered losses. The British FTSE 100 fell 0.5%, as did the French CAC 40. The German DAX lost 0.3%.

Stock exchanges in New York already lost ground on Tuesday evening. The Dow Jones fell 1.6%, the S&P lost over 1% and the Nasdaq lost 0.5%. Investors, according to analysts, expected more in statements by Federal Reserve chairman Jerome Powell about support for the slumped economy.

The initially widely embraced test results of Moderna’s anti-corona vaccine, which turned up stock markets on Monday, were sharply criticized: there would be far too little data to claim any success.

The first futures for the US stock markets to open at 3:30 PM are trading gains of around 0.3%.

Stock exchanges in Asia performed divided this morning, responding to Wall Street. The Japanese central bank announced to hold an emergency meeting on Friday about a support program for smaller companies. The Shanghai stock exchange and the Hang Seng index in Hong Kong remained slightly negative.

The euro became 0.2% more expensive to $ 1.0950. Brent oil rose 0.2% in price to $ 34.70 a barrel. Unlike last month’s negative oil price, June’s US oil futures for June were barely moving at -0.3%.

ASR is disappointing

The main funds included technology investors Prosus thanks to 1.1% price gain at the top. Information provider Relx plussed with 0.67%, just like Philips and KPN.

ASR (-3.4%) reported a lower operating result for its first quarter. The corona crisis still has a limited impact, according to ASR. The Solvency II ratio improved. The board maintains its medium-term objective.

ABN Amro joined the losers with a 4% price loss at the bottom. ING lost 3.8%, NN lost 2.4% and Aegon 2.9%.

Steelmaker ArcelorMittal lost another 4%.

Meal Delivery Just Eat Takeaway.com (-3.1%) responded to the message that shareholder SM Trust will phase out its stake of approximately 3.75%, 5.6 million units in total.

Telecom company Altice Europe (-0.9%) reported repaying € 668 million in loans.

The medium-sized funds fell Air France KLM by 5% and led the list of losers. The fund is in the interest of short sellers, who hope for an issue of shares. Air France KLM says it offers more employees the opportunity to voluntarily leave the company with financial compensation.

Liquidity provider Flow Traders (+ 0.2%) took an interest in the exchange Members Exchange. That wants to compete with the New York Stock Exchange. Fagron and Besi were also the only winners with little profit.

Investment company HAL Trust (-0.7%) reported after-market Tuesday that its net asset value in the first quarter of 2020 decreased by more than € 1.2 billion to about € 12.5 billion. This was mainly due to the lower stock prices of GrandVision, Boskalis and SBM Offshore.

Rabobank issued a profit warning. It foresees a doubling of costs for loan losses to € 2 billion this year, which will depress the result. The higher costs, with expected lower revenues due to the persistently low interest rates, will have a ‘significant’ effect on net profit for 2020, the bank warned.

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