European exchanges focus on Brexit negotiations

22

The European stock exchanges showed mainly losses on Monday. Investors made some profit after the recent strong advance and were mainly monitoring the Brexit negotiations. An EU summit at the end of this week will be seen as the last moment when European heads of government can agree to an agreement on the departure of the British from the EU.

The AEX index on Stock Exchange Square 5 recorded 0.3 percent lower at 613.63 points at noon. The Midcap lost 0.2% to 916.31 points. The stock exchange meters in Frankfurt and Paris dropped to 0.9 percent.

The London FTSE index climbed 0.3%, partly thanks to a fall in the British pound. According to The Sun newspaper, British Prime Minister Boris Johnson is considering stopping the Brexit talks if there is no movement in the negotiations with Brussels on Monday.

ING and ABN AMRO were the largest losers in the AEX, with losses of up to 2 percent. The European Central Bank (ECB) urges that the dividend ban on banks be extended for a further six months. The central bank points to the continuing uncertainty caused by the coronacrisis and a need for banks to have enough cash in their pockets. Banks were hoping to be able to pay dividends again to their shareholders at the beginning of next year.

Supermarket group Ahold Delhaize claimed the rise, with a profit of 1.4 percent. Chipmachinemaker ASML increased 0.7 percent and tapped the highest course ever.

In the midcap, Basic-Fit (minus 4.2 percent) closed the row. Investors seem to assume that the high number of coronabetes makes it impossible to relax in the Netherlands. Soil researcher Fugro went in the lead with a plus of 2.2 percent.

Intertrust dropped 1%. Top woman Stephanie Miller quit the financial services company. Director Shankar Iyer will be appointed as interim senior officer with immediate effect. According to KBC Securities analysts, Miller’s departure is unexpected.

In Frankfurt, Zalando lost 0.9%. Rubin Ritter, one of the three top men in the German clothing and shoe web store, announced his departure. He and his wife decided that her career should take precedence in the coming years. His two co-directors Robert Gentz and David Schneider continue to run the company together.

The euro was worth $ 1,2108, compared to $ 1,2142 on Friday. A barrel of American oil was one percent cheaper than $ 45.82. Brent oil cost 0.8 percent less at $ 48.88 a barrel.

LEAVE A REPLY

Please enter your comment!
Please enter your name here