Builder BAM big winner on expectant Damrak

BAM was a big winner on the Amsterdam stock exchange on Thursday. The builder rose 12 percent thanks to a buy recommendation by ING. The mood in the stock markets was also cautious. Investors are mainly waiting for the top of the military alliance NATO. The leaders of the European Union will also meet US President Joe Biden and the leaders of the G7 will meet.

NATO chief Jens Stoltenberg said before the summit at headquarters in Brussels that Russian President Vladimir Putin made a “big mistake” in invading Ukraine. He also warned Moscow not to resort to chemical or even nuclear weapons, as the use of such weapons will “fundamentally change” the conflict.

The AEX index on Beursplein 5 was down 0.2 percent at 720.37 points around noon. The MidKap fell 1 percent to 1037.04 points. The stock exchanges in Frankfurt and Paris fell to 0.3 percent. London won 0.1 percent.

In Moscow, the stock market reopened after a week-long shutdown. The MOEX index climbed more than 4 percent. However, a small number of shares are tradable. Also, foreign investors are still not allowed to sell their Russian shares. State gas company Gazprom and oil group Rosneft rose to 17 percent.

Paint group AkzoNobel closed the row in the AEX with a loss of 2.5 percent. Oil and gas group Shell led the scarce risers with a plus of 1 percent. Prosus (minus 1.2 percent) continued the decline. The tech investor lost almost 5 percent a day earlier after disappointing results from the Chinese tech company Tencent, in which Prosus has a large stake.

In the MidKap, coffee group JDE Peet’s fell 4.4 percent after a sell recommendation by Berenberg. Stainless steel company Aperam received an advice cut from Credit Suisse and fell more than 3 percent.

Daimler Truck rose 5 percent in Frankfurt. Mercedes-Benz’s divisional truck division expects to achieve higher profit margins this year. Renault fell 2.5 percent in Paris. The French automaker will immediately stop production at its Moscow factory. Possible interventions at the Russian subsidiary AvtoVaz are still being considered.

The euro was worth $1.0983, against $1.1014 a day earlier. Oil prices showed a mixed picture, after a sharp rise the day before. A barrel of US oil was 0.1 percent cheaper at $114.81. Brent oil cost 0.2 percent more at $121.83 a barrel.

Builder BAM big winner on expectant Damrak
Source link Builder BAM big winner on expectant Damrak

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