Economy

‘Interest worries and fear of inflation keep a grip on Damrak’ | Financial

On the Damrak, the AEX index seems to open lower on the basis of the opening indicators, after the loss the day before. The other European stock market indicators are also expected to start with losses. Investors on Damrak are still processing the results of information supplier Wolters Kluwer. After the closing bell, industrial supplier Aalberts and metal group AMG will give a look into the books.

US central bank president Jerome Powell on Tuesday sought to allay concerns about interest rates and inflation. Powell said in a hearing before Congress that he did not fear extremely high or prolonged inflation as a result of the billions the Fed is pumping into the economy. The central banker therefore sees no reason to temper the stimulus policy, which is causing very low interest rates.

In Germany, the number of newly diagnosed corona infections is increasing again in the last 24 hours, after a few days of declines. The Robert Koch Institute is reporting 8007 new cases, more than double the number reported Tuesday. In total, the corona virus has been diagnosed in more than 2.4 million people in Germany.

AstraZeneca is in the news in London. According to Reuters news agency, the British-Swedish pharmaceutical company has warned Brussels that delivery of the vaccines to the EU will also be disappointing in the second quarter, but the company says it can still deliver the promised number of vaccines. In the first quarter of this year, the vaccine manufacturer did not deliver on its promises.

In Amsterdam, the focus remains on KPN. The stock fell 6 percent on Tuesday after América Móvil, which has a major interest in the telecom group, announced that it wanted to issue bond loans that could be converted into KPN shares. The Mexican telecom company has now successfully placed 2.1 billion euros worth of KPN bonds with institutional investors outside the US.

At the Brussels stock exchange, the focus is on Solvay. At the presentation of the annual figures, the Belgian chemical concern announced that it would cut 500 jobs. The company is also increasing its cost reduction targets.

The euro was worth $ 1.2157, versus $ 1.2151 the day before. The price of a barrel of US oil fell 0.6 percent to $ 61.31. Brent oil cost 0.2 percent less at $ 65.23 a barrel.

Tags

Related Articles

Back to top button
Close
Close