Tech investor Prosus came under pressure on the Damrak on Monday because it feared the Chinese government would crack down on the country’s big tech companies. European equity markets started higher in the last shortened trading week of the year. The news that US President Donald Trump nevertheless signed the corona support package for the US economy and the introduction of the corona vaccine in many European countries has relieved the stock exchanges. Investors have also chewed on last week’s Brexit deal.
The AEX index for Beursplein 5 rose 0.4 percent in morning trading to 628.71 points. The MidKap rose 0.6 percent to 939.97 points. The German DAX rose by 1.2 percent and reached a new record level. The main index in Paris rose by 0.8 percent. The stock exchange is closed in London.
Prosus (minus 4.4 percent) was the last in the AEX. Beijing is demanding, among other things, that the payment service provider Ant Group, a subsidiary of Alibaba, no longer offers consumer credit and asset management services. It also examines the strong dominant position of the online store Alibaba. Alibaba shares fell sharply again on Monday in Hong Kong. The Chinese internet company Tencent, in which Prosus has a great interest, also suffered.
The strongest increases in the main companies in Amsterdam were the steel manufacturer ArcelorMittal and the telecommunications group KPN with profits of 2 and 1.8 percent. In the MidKap, the Basic-Fit fitness chain and the Air France-KLM aviation combination took the lead with a plus of more than 2 percent. Biotechnologist Pharming and coffee company JDE Peet’s were the only losers, with losses of 2.6 and 0.7 percent, respectively.
In Frankfurt, Delivery Hero rose 3.6 percent to the highest price ever. The German food company has to sell the ordering app Yogiyo from the South Korean competition authority in order to obtain approval for the multi-billion dollar takeover of its South Korean industrial colleague Woowa Brothers. South Korea is the second largest market for meal delivery after China and the United States. In Amsterdam, competitor Just Eat Takeaway won 0.3 percent.
The euro was valued at $ 1.2230 versus $ 1.2192 on Thursday. The price of a barrel of US oil rose 0.5 percent to $ 48.45. Brent oil was 0.4 percent more expensive at $ 51.48 a barrel.