October 26, 2020

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AEX closes with a loss against the corona revival

AEX closes with a loss against the corona revival

The Amsterdam stock exchange ended on Friday with a slight minus. In other European countries the mood was mostly negative, especially for the Madrid stock exchange with a significant loss. In the region around the Spanish capital, a partial lockdown will apply in response to the sharp rise in corona infections. The virus resurgence in Europe was particularly troubling for travel industry stocks in the stock markets.

The AEX index for Beursplein 5 closed 0.3 percent lower at 550.85 points. The MidKap lost 0.7 percent to 819.57 points. The main index in Madrid closed min. Up to 2.1 percent. The stock exchanges in Paris, London and Frankfurt lost 1.2 percent.

The travel sector turned red, with a loss of nearly 2 percent for Air France-KLM in Amsterdam. Industry colleague IAG, parent company of British Airways, fell 14.6 percent. The low-cost airline Ryanair (minus 4.5 percent) announced on Friday that it would further reduce its flight capacity due to the corona crisis. The hotel groups InterContinental Hotels (minus 4.5 percent) and Accor (minus 2.8 percent) also lost ground.

Tech investor Prosus fell 1.9 percent in Amsterdam. The US Department of Commerce banned app stores in the US from offering WeChat, which is owned by the Chinese Tencent. Prosus is very interested in Tencent.

Unibail-Rodamco-Westfield was again the biggest loser in the AEX with a minus of almost 10.5 percent. The Retail Property Fund announced this week it would cut its dividend and issue new shares.

Euronext rose 4.3 percent for smaller companies. The exchange operator is in exclusive talks with the London Stock Exchange about a takeover of the Milan Stock Exchange, in which it is working with the Italian government and the Italian bank Intesa Sanpaolo.

The euro was valued at $ 1.1859 versus $ 1.1824 the day before. A barrel of American oil was 0.6 percent more expensive at $ 41.21. Brent oil was 0.1 percent less at $ 43.29 a barrel.