ECB gives AEX small loss | Financial

The AEX closed 0.3% lower at 550.5 points. The AMX dropped 0.2% to 797.8 points.

Most other European stock exchanges also lost some ground. The British FTSE 100, the French CAC 40 and the German DAX fell 0.2%, 0.4% and 0.2% respectively.

The American stock markets performed better, partly thanks to the gains from the euro. When the European stock markets closed, the Dow Jones index and the Nasdaq index were 0.1% and 0.6% higher respectively.

As expected, the European Central Bank no changes in interest rates and bond buyback programs this afternoon. ECB president Christine Lagarde’s comment did cause the euro to climb 0.6% to nearly $ 1.19. “She indicated that the ECB should not overreact to the recent advance, which was also not very strong. She also emphasized that there is no target for the euro dollar, ”says macro economist Jeroen Blokland of Robeco.

Blokland does not think that the ECB will follow after the US central bank later this year, which recently indicated that it will not intervene if inflation exceeds 2%. “The Fed has the highest possible employment as a second spearhead, which is lacking at the ECB. However, should the ECB change its inflation target, it will have greater consequences than the Fed’s policy. ”

The fact that European stock markets are holding up reasonably well despite the dollar’s decline is not surprising for Blokland. “Of course this is bad for export-related companies, but the euro is not rising that much. Partly because of both the monetary and fiscal stimulus measures, I am quite positive about equities. ”

Kempen, on the other hand, is still slightly underweight in equities, macro economist Joost van Leenders reports. “Valuations have risen sharply in recent months and the economic recovery is leveling off. In addition to monetary support, we are now seeing more and more fiscal support in various European countries. We are still waiting for an extension of the support program in the US. “

Real estate fund ended in the AEX Unibail-Rodamco-Westfield with a minus of 3.2% at the bottom. The insurers Aegon in ASR lost 1.4% and 1.3% respectively.

Under the influence of the slightly further fall in the oil price and the dollar exchange rate Shell 1,3%.

AkzoNobel excelled with a gain of 2.9%, in response to the excited quarterly update. The paint manufacturer sees continued improving trends in the third quarter and expects quarterly sales to be roughly the same from the same period a year earlier.

Payment processor Adyen climbed 1.6%.

ING won 0.8% on the news that it can take on new customers in Italy. The Italian central bank has lifted the previously set customer freeze for the financial group. Since March last year, ING has been on the ‘penalty bench’ due to flaws in the anti-money laundering policy.

Heineken (+ 0.7%) announced that it was entering the Peruvian beer market. The brewer acquires the Tres Cruces brand and also partners with beverage producer AJE Group to further strengthen its position in the country.

In the AMX the supplier to the chip sector ended Iron with a loss of 1.9% at the bottom. Telecom and cable company Altice Europe lost 1.5%.

Biopharmaceutical Pharming in PostNL climbed 1.3% and 1.1%.

Smallcapfonds Kendrion (+ 2.5%) stated that they wanted to achieve at least 5% annual growth in turnover independently for the next five years. The return must also increase. The producer of electromagnetic components is suffering this year from the malaise in the car industry as a result of the corona crisis. The industry side is somewhat more stable and profitable in terms of results.

We stumble from crisis to crisis and that is because of the euro, says DFT reporter Martin Visser in a new episode of the podcast Matter of Cents.

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