January 19, 2021

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The equity markets in Europe are close to profit, London is lagging behind

The equity markets in Europe are close to profit, London is lagging behind

European equity markets traded in profit on Friday. Investors seemed to have left it after the strong boom in recent weeks. In Amsterdam, Air France-KLM was an impressive winner.

The AEX index for Beursplein 5 closed the session 0.7 percent higher at 611.67 points. The MidKap gained 1.1 percent to 914.57 points. The stock exchanges in Frankfurt and Paris recorded increases of up to 0.6 percent, London lagged behind with growth of 0.1 percent. The mood here was burdened by the stricter corona measures. The upcoming deadline for Brexit and the lack of an agreement also weighed on sentiment.

Air France-KLM gained almost 5 percent and was by far the strongest climber in the MidKap. The aviation company recently benefited greatly from hopes for vaccines, and thus possibly from the beginning of the end of the corona crisis. According to the French newspaper Les Echos, the fight for the further integration of KLM into Air France-KLM flares up again. At present, KLM enjoys a high degree of independence within the company, but the top of Air France-KLM would like to partially eliminate this.

The AEX index was led by the paint company AkzoNobel, which gained just under 4 percent. Payment company Adyen, chip maker ASML and chip supplier ASMI were also among the strongest winners.

Randstad (plus 2.3 percent) benefited from a positive report from Morgan Stanley. The analysts of the US bank assume that the recovery of European temporary workers will continue in 2021 and continue to evaluate the sector positively. In Switzerland, industry colleague Adecco won 0.2 percent.

Client BAM closed flat in the MidKap. At the end of this year, the building contractor and competitor Heijmans (minus 0.9 percent) will merge its asphalt plants in a joint company called AsfaltNU.

In Madrid, the banking sector was in the spotlight. The merger talks between the large Spanish banks Banco Sabadell (minus 13 percent) and BBVA (plus 4.7 percent) have failed.

In Stockholm, SSAB fell 1.6 percent. According to the Indian business newspaper Business Today, the Swedish steel company plans to pay $ 7 billion for Tata Steel IJmuiden.

The euro was at $ 1.1954 versus $ 1.1907 the day before. At the closing bell, a barrel of American oil cost 1.2 percent less at $ 45.02. The price of Brent oil rose 0.4 percent to $ 47.97 a barrel.