Small loss AEX before the end of the interest rate
Wednesday, 17 March 2021 5:50 pm
(ABM FN-Dow Jones) Amsterdam Stock Exchange closed with a small loss on Wednesday ahead of the US Federal Reserve interest rate decision.
The AEX is down 0.4 percent at 680.71 points.
The central bank will release interest rate results tonight. Economists do not anticipate change, and will pay particular attention to President Jerome Powell’s explanation and the development of the so-called Dot Conspiracy.
“There was someone expecting an interest rate hike in December 2022. In the meantime, I wonder if others are agreeing with this view,” said Luke Oppen, an economist at Van Lanshot Kempen.
The EUR / USD traded at 1.1897. When US stock markets closed on Tuesday, the currency pair was still moving to 1.1905. The US ten-year interest rate was 1.67.
Macro-economically it was a quiet day. Eurozone inflation was confirmed at 0.9 percent in February. Also, very few homes are under construction in the United States. The number of building permits issued also fell sharply.
The oil became more than half a percent cheaper. The International Energy Agency (IEA) has adjusted its oil demand forecast, but said it does not believe in a new ‘super cycle’ for oil. IEA analysts point to ample oil supplies, despite a steady decline, and have significant reserve production potential.
Recipients and followers
On the AEX, ABN Amro and KPN 1.5 and 1.4 percent went green. Just Eat Takeaway and Galapagos, on the other hand, lost 2.5 and 2.7 percent, respectively.
Post was leading the NL midcap with a price gain of 1.3 percent. NSI rose 0.9 percent. NSI bought 3 office buildings for almost 80 million euros. The largest of these three, the Atlanta building in Stothauderscade, Amsterdam, has been fully operational for 15 years.
Euro Commercial Properties and Basic-Fit lost 2.6 and 3.3 percent, respectively.
In small caps, Agel rose another 1.8 percent. The stock has been on the decline since a positive report came in from ABN Amro Auto last week. Netflix rose 3.1 percent. According to Bernberg, Netflix has set ambitious goals for the coming years, but the company must now provide the resources to achieve them. “The strategy looks logical and the assessment looks attractive if it meets growth and margin targets,” the bank’s analysts wrote.
PAM and Lucas Poles lost 2.3 and 3.0 percent, respectively.
Domestically listed Fastnet lost 7.8 percent.
When European stock markets closed, US stock markets were mostly low. The Dow Jones Industrial Average won 0.2 percent, but the S&P 500 Index fell half a percentage point and the Nasdaq technology exchange also rose 1.1 percent.
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