(ABM FN-Dow Jones) The Amsterdam stock exchanges closed with a profit on Friday. The AEX index rose 1.3 percent to 716.36 points, while the AMX posted a gain of 0.8 percent and the AScX was up 0.5 percent.
Rising oil prices and geopolitical developments once again dominated Friday. “Investors’ fears of a strong economic slowdown due to the Ukraine war appear to be easing, while fears of persistently high inflation are still present,” said ING investment manager Simon Wiersma.
US President Joe Biden and Chinese leader Xi Jinping spoke during a video call on Friday. In it, the Chinese leader is said to have said that the conflict in Ukraine is in no one’s interest, Reuters news agency reported.
Xi went on to say that China and the United States must take responsibility and work towards peace and tranquility in the world.
Secretary of State Antony Blinken said on Thursday that Biden would make it clear to Xi “that China will bear responsibility for all actions it takes to support Russian aggression”.
On a macroeconomic level, it was announced Friday that eurozone exports rose 18.9 percent year-on-year in January, while imports rose 44.3 percent. This resulted in a deficit of 27.2 billion euros in January, compared to a surplus of 10.7 billion euros in the same month a year earlier.
Labor costs in the eurozone rose by 1.9 percent year-on-year in the fourth quarter.
During the second half of the trading day, news came from the US that existing home sales in the US fell 7.2 percent in February to 6.02 million homes, while the median annualized sales price is up 15.0 percent.
Leading indicators for the US economy rose again slightly in February, after falling in January. The Leading Economic Index rose 0.3 percent to 119.9
The euro/dollar traded at 1.1061. At the start of the trading day in Europe, the currency pair still moved at 1.1077 and when the US stock exchanges closed on Thursday, there was a position of 1.1089 on the plates.
Oil was up 1.3 percent on Friday.
Risers and Fallers
In the Amsterdam main indicator, 17 of the 25 green shares, led by Prosus, closed with a profit of 5.3 percent. ASMI, Besi and ASML rose to 4.6 percent. Just Eat Takeaway won 5.2 percent.
ArcelorMittal was the strongest faller of the main funds with a loss of 1.9 percent. Ahold Delhaize lost 1.7 percent, while NN Group fell 1.6 percent.
WDP took the lead in the AMX. The stock gained 3.3 percent. Corbion rose 2.5 percent. Aperam lost 2.0 percent.
In the AScX, Sif shot up 6.0 percent after numbers. As expected, the Roermond foundation specialist achieved its own outlook and is counting on a further increase in EBITDA in 2022. Nevertheless, ING spoke of a mediocre fourth quarter.
Vivoryon rose 1.2 percent, continuing the upward trend of recent days.
Wall Street standings
At the close of the Amsterdam stock exchanges, the leading S&P 500 index was 0.4 percent higher at 4,427.54 points. The Dow Jones index fell 0.1 percent and technology exchange Nasdaq was quoted 1.2 percent in the green.
Source: ABM Financial News