Restraint on European stock markets due to corona concerns

European stock markets showed small gains on Thursday. Investors remained cautious due to the tightened corona measures in several countries and the possible negative impact of this on the economic recovery. The markets are also without directional news from the United States, where the markets are closed for Thanksgiving Day.

The AEX index on Beursplein 5 was 0.3 percent in the plus at 805.28 points around noon. The MidKap gained 0.1 percent to 1059.82 points. Stock market indicators in London and Paris rose to 0.2 percent.

The DAX in Frankfurt climbed 0.1 percent, despite the German economy’s growth in the third quarter being slightly lower than previously reported. Figures from research agency GfK also showed that German consumers are in a negative mood, just before the important holiday season. New corona restrictions and high German inflation are putting consumer confidence under pressure.

Fintech company Adyen was the strongest climber among the main funds on the Damrak, with a profit of more than 3 percent. Chip supplier ASMI and chemical distributor IMCD followed with gains of 1.4 percent. Telecom group KPN and healthcare technology company Philips closed the row with losses of up to 1.6 percent.

In the MidKap, Air France-KLM won 0.3 percent. According to Bloomberg news agency, Brussels wants vaccinated people to get a booster shot after nine months to keep their European corona travel card. The European Commission is urging EU countries to adopt the same rules to avoid confusion for travelers.

ForFarmers announced that CEO Yoram Knoop will leave the animal feed company next year. He says he is ready for a “new phase” after eight years. The company is already looking for a new CEO. The stock fell 0.7 percent.

In Paris, Remy Cointreau rose 11 percent. The French beverage company raised its expectations after strong results over the past six months. The well-known cognac brand mainly sold more liquor in the US and China and also increased its prices. Orange lost 0.2 percent. CEO Stéphane Richard leaves the French telecom group after he was convicted of complicity in a fraud case.

The euro was worth USD 1.1220, against USD 1.1195 a day earlier. A barrel of American oil was 0.6 percent cheaper at $ 77.89. Brent oil cost 0.5 percent less at $ 81.86 a barrel.

Restraint on European stock markets due to corona concerns
Source link Restraint on European stock markets due to corona concerns

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