The AEX was 0.2% higher at 523.4 points at 3 PM, after dropping to 514.3 points early in the morning. The AMX rose 0.3% to 682.9 points.
The British FTSE 100 lost 0.3%, the German DAX rose 0.1% and the French CAC-40 was up 0.4%. Luxury brands like LVMH and Richemont took a hit, but Burberry gained 4.6% after reporting growth in Asia.
“Dutch stock exchanges are now following the American ones. Volumes remain decent, and the trend is not bad either. But many investors are putting risks out now that the stock exchanges in the United States and the United Kingdom are closed on Monday, ”said ABN Amro trader Frank Bonsee. “You don’t want to take any risks with the threats from Trump, and China, which is in the middle of its national people’s congress.”
Index futures pointed to a 0.3% higher opening of the US stock markets at 3:30 PM towards a long weekend.
The mood on the Asian stock markets this morning was bleak. Stock prices fell in Hong Kong in particular. Car maker Nissan is said to cut 20,000 jobs.
After optimism about the decline in corona infections and accelerated vaccine launches prevailed earlier this week, investors are now more aware of the risks.
Tensions around China dominate for asset manager Joop van de Groep (Fintessa). Beijing dropped its growth target for the world’s second economy. “That can explain the sharp drop in the oil price, China is a big buyer, today.”
In addition to President Trump’s accusation that China is the cause of the coronavirus, the information for a long time has been obscured, fresh signals from investors are emerging of a flaring trade war between the U.S. and China, the financial economist says. China was firing oil this morning by enacting laws to ensure “national security” in Hong Kong and Macau. Washington directly supported Hong Kong and Macau.
These tensions were felt in the Dutch main funds. It said there Prosus with a loss of 3.4% at the bottom. The investor in technology companies, the main one in Tencent, was affected by the increased tensions in China.
Van de Groep (Fintessa): ,, Tencent drops pre-market on Wall Street by about 4%. That stock, like funds like Alibaba, could be affected by the tightening of demands and possibly a trade ban on Chinese companies that President Trump wants to introduce. ”
Climbed to the main funds ABN Amro at the top by 8%. Traded volumes (up to 7.6 million) increased, market researchers still have an explanation for the relatively strong advance other than that the State-supported institution is “a bargain”.
The share already lost 70% on the Damrak this year. However, the latest ECB minutes offer support for financials: a V-shaped recovery from the corona crisis is virtually out of the question, say the economists.
The European banking index is also rising with the prospect of more support.
ING was the most traded, however, with 17 million pieces, up 2.1%, Aegon by 2.4%.
Payment processor Adyen became 3.8% more expensive, chip supplier ASMI followed with a 3.7% profit.
Investors threw themselves into this year’s biggest laggards. Real estate fund Unibail-Rodamco-Westfield bounced 4.9%, after dropping to its lowest level ever on Thursday.
Heineken followed in the AEX with a drop of 1.3%, Unilever decreased by 1.5%.
Medical technology company Philips decreased by 0.7%. Turkish companies would like to buy their household branch, the value of which is estimated at around € 3 billion.
Shell went to 0.4% profit. A lawsuit against Shell ended.
Oil prices fell by 4 to 6%. Both European Brent and US WTI still cost more than $ 30 a barrel. To save costs, the energy giant offers a voluntary departure scheme for personnel.
Galapagos remained flat. On Thursday, the biotechnology company had gone down 8%, as the investigation of its agent against a chronic inflammatory bowel disease produced disappointing results.
The medium-sized funds stated Air France KLM with a minus of 1.7% at the bottom next to Intertrust.
Altice Europe lost 0.3%, despite buying advice from British bank HSBC. On Thursday, the French cable and telecom company lost 14% after disappointing quarterly figures.
It was at the top PostNL with a 3.3% increase.
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