The AEX index ended 1% lower at 671.75 points. The AMX fell 0.5% to 992.26 points. The price signs in London (-0.2%), Paris (-0.01%) and Frankfurt (-0.2%) also turned red.
According to investment strategist Simon Wiersma (ING), the rising interest rate caused significant price fluctuations on the stock markets. “The financial markets especially find the speed of the interest rate rise somewhat difficult. That led to volatility, ”he explained. “The price of high-value tech stocks came under pressure, while financials did better again.”
“The stock markets had to absorb the higher interest rates,” agreed asset manager Renco van Schie (Valuedge). While growth stocks are under pressure, value stocks can be catching up. “You saw growth and value stocks come closer together again.”
Elsewhere, equity markets showed a mixed picture. In Asia, the Nikkei in Tokyo this morning 0.5% higher. On Wall Street the Dow Jones index was almost flat at the end of the afternoon. Tech exchange Nasdaq fell 1.7%.
Aegon in the lead, Prosus at the bottom
In the AEX, the higher interest rate played a role for the insurers Aegon (+2, 9%) in NN (+ 2.7%) in the map. Aegon was also in demand due to a report from Bloomberg news agency that the insurer is planning to be activities in Asia to sell. Aegon is active in Singapore and Hong Kong, among others, under the name Transamerica. The division should bring in at least $ 700 million. The financials also included ABN Amro (+1,4%), ASR (+ 1%) in ING (+ 0.1%) on the rise.
Telecom concern KPN (+ 2.8%) was also at the top of the winners list. Stock market heavyweight Royal Dutch Shell (+ 2.5%) benefited from the higher oil price.
Retail real estate investor Unibail-Rodamco-Westfield became worth 2.4% more. Asset manager Berenberg took € 6 off the target price to € 54, but advised keeping the Unibail share.
Heavyweight Prosus was at the bottom of the main funds. The tech investor was written down 4.2%. Food delivery company Just Eat Takeaway (-4.1%) was also in the lower regions. The chip machine manufacturers ASMI (-3.3%) in ASML (-2.1%) were also released. Food giant Unilever left 2.1%.
In the AMX was retail real estate fund Eurocommercial the leader with a plus of 2.6%. Maritime service provider SBM Offshore climbed 2.2%.
Air France-KLM went up 1.3%. The travel industry blames KLM abuse state aid now that the airline is launching vacation packages. Deutsche Bank has lowered the target price for the Air France-KLM share from € 3.50 to € 2.70. A sales advice remains. The airline company is burning much more cash than previously expected.
Lighting producer Signify (-2.8%) was the biggest loser among medium-sized funds. Parcel deliverer PostNL (-2.1%) was also one of the laggards.
At the small cap funds, supplier responded B&S with a 2.2% gain on its quarterly results presented. Company is considering divesting its cruise arm after disappointing results due to the corona pandemic.
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