The AEX was 0.3% lower at 521.1 points at 2 PM after dropping to 514.3 points early in the morning. The AMX fell 0.7% to 689.9 points.
The British FTSE 100, the German DAX and the French CAC 40 lost 1.4%, 0.8% and 0.7% respectively. Luxury brands like LVMH and Richemont took a hit, but Burberry gained 4.6% after reporting growth in Asia.
The index futures pointed to a 0.6% lower opening of the American stock markets at 3:30 this afternoon towards a long weekend: Americans celebrate Memorial Day on Monday, the commemoration of the dead soldiers.
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.
“Trade frenzy hits Prosus”
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. ”
Heineken followed in the AEX with a drop of 1.3%, Unilever decreased by 1.5%.
Medical technology company Philips declined 1%. Turkish companies would like to buy their household branch, the value of which is estimated at around € 3 billion.
Shell lost 0.6%. 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.
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.
ABN Amro climbed 7%. Volumes are rising sharply, but market researchers still have an explanation. Other bank shares also rose slightly in Europe. Both are the worst performing stocks this year, their price fell 70% and 59% respectively this year.
The medium-sized funds stated Air France KLM with a minus of 3.8% at the bottom.
Altice Europe lost 1.1%, 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 3.1% increase.
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