Business

AEX down hard due to tensions around Ukraine

Photo: ANP

The Amsterdam AEX index fell sharply on Monday due to mounting tensions around Ukraine. The United States warned last weekend that a Russian invasion of the country could take place at any moment. More and more Western countries are calling on their citizens to leave Ukraine because of a possible invasion. Moscow continues to emphasize that it does not intend to. Geopolitical tensions are pushing up oil prices further.

The AEX index on Beursplein 5 lost 2.1 percent in morning trade at 745.18 points. All 25 main funds were in the red. The MidKap fell 2.3 percent to 1030.19 points. The stock exchanges in Frankfurt, London and Paris lost up to 2.7 percent.

The chip and tech companies were among the biggest decliners after the heavy price loss of the American tech gauge Nasdaq on Friday. The price pressure in the sector is caused by fears that interest rates in the US will rise sharply this year after years of historically low interest rates. Higher interest rates are bad news for equity investments and especially for the prices of the fast-growing tech companies. The chip companies ASMI, Besi and ASML fell to 4 percent.

Steel group ArcelorMittal was the largest decliner in the AEX, with a minus of 4.5 percent. Shell kept the loss limited to 0.2 percent thanks to the sharp rise in oil prices. The oil and gas group also announced that it would allocate 1.6 billion dollars to buy out the other shareholders of Shell Midstream Partners. In the past, the operator of pipelines in the United States had been independently floated on the stock exchange to make it easier to raise money.

Just Eat Takeaway (minus 4 percent) fell further after the recent price pressure. Top man Jitse Groen of the meal delivery company said on Sunday in the TV program Business Class that hard work is being done to make the company better. The delisting of the Nasdaq is also not a prelude to a possible sale of the American meal delivery company Grubhub, according to the CEO.

Clariant plummeted 16 percent in Zurich. The Swiss chemical group is delaying the publication of its annual figures due to possible irregularities in its accounting. The euro was worth $1.1337, against $1,1400 on Friday. The price of a barrel of US oil rose 1.5 percent to $94.51 and Brent oil cost 1.4 percent more at $95.74 a barrel. On Friday, oil was already about 4 percent more expensive.



AEX down hard due to tensions around Ukraine
Source link AEX down hard due to tensions around Ukraine

Back to top button