Markets stuck between the Brexit saga and Stimulus tale
The European stock markets remained close to home on Monday. The markets were trapped between the hopes of more central bank stimulus measures and the continuing unrest surrounding the Brexit. At the Damrak, Air France-KLM fell due to disappointing transport figures from the aviation combination.
The AEX index on Beursplein 5 was a fraction lower at 569.59 points around noon. The MidKap dropped 0.5 percent to 819.03 points. The DAX in Frankfurt won 0.2 percent and London fell 0.4 percent. The main index in Paris remained unchanged.
The financial companies were at the forefront of the AEX funds due to the hope of more economic stimulus measures. ABN AMRO was the big winner with a profit of 1.8 percent after an advice increase by Morgan Stanley. Payment company Adyen, on the other hand, closed the line with a loss of 1.6 percent. Alhold Delhaize fell 0.3 percent. Financial director Jeff Carr leaves the supermarket group in April.
Air France-KLM dangled down the MidKap with a minus of 8.8 percent. The aviation combination transported more passengers in August than a year earlier, but slightly less than in July. The freight transport decreased again. Cable and telecom company Altice Europe benefited from an advice increase by JPMorgan and led with a plus of 2.6 percent.
In London, the parent company of British Airways, IAG fell 2 percent. The British airline scraps most of its flights on Monday and Tuesday due to a pilot strike. Lloyds Banking Group fell 1.3 percent. The British bank expects to spend more money on claims from customers to whom credit insurance policies have been wrongly sold and will stop its share buyback program.
Proximus lost 0.3 percent in Brussels. The Belgian trade unions demand that the telecom company immediately disconnects all contacts with top woman Dominique Leroy, now that she has been nominated as KPN’s highest boss (plus 0.5 percent).
The euro was worth $ 1.1035 against $ 1.1042 on Friday. A barrel of American oil cost 0.9 percent more at $ 57.03. Brent oil rose 0.8 percent in price to $ 62.03 a barrel.