Brussels starts slightly higher
(ABM FN) The Brussels stock exchange is expected to start higher on Thursday. An hour before the stock market bell, futures on the Euro Stoxx 50 index pointed to a profit of several tenths of a percent. The stock market is closed, signed in London execution may be low, volatility may.
On Wednesday, the Bel20 started the trading day on a positive note, but the profits could not be extended. After a red opening on Wall Street, investors again gained for the sell button and the trading day’s index with a loss of 1 percent at 3,854.14 points.
The strong up and down movements are part of the calculation of the current market, according to asset manager Fred van Deijck van Bustelberg. “Maybe we’ve had the bottom, but we’re not going to go up in a straight line after that.”
Wall Street also closed lower on Wednesday evening, but losses were contained with the main indicator S&P 500 falling three-quarters percent.
Wednesday’s session ushered in another trading month, but few investors expect volatility to end. Many investors remain concerned about the pace of the Federal Reserve’s rate hikes and the US economy going into recession.
A pair of purchasing managers’ indices for the US industry saw a mixed picture yesterday. Figures from the Institute for Supply Management showed that the industry in the US unexpectedly accelerated growth in May. The ISM Purchasing Managers Index rose to 56.1 last month from 55.4 in April.
However, the Markit index suggested a slowdown in US growth in May. This index fell from 59.2 in April to 57.0 in May, but still on a growth path.
The release of the Beige Book does not alarm investors. All 12 Federal Reserve districts have seen sustained economic growth in recent months.
July futures for a VAT West Texas Intermediate crude closed half a percent higher on Wednesday at $115.26 on the New York Mercantile Exchange. In Asian trade this morning, however, the future is dropping 2 percent, after reporting in the Financial Times that Saudi Arabia would be willing to ramp up production if Russian production were to drop significantly after the European Union’s introduction. oil cartel OPEC is meeting today to discuss future production increases.
The Asian stock markets are also under pressure this morning, with the Hang Seng index in Hong Kong leading the way with a loss of more than one and a half percent. The Shanghai Composite narrowly manages to score in the green.
Investors’ eye today includes the release of the ADP jobs report ahead of Friday’s official US jobs report, interim aid applications and US factory orders in April.
Company news
The US health watchdog FDA approved Nyxoah’s Genio 2.1 system with new upgrades for use in a new sleep apnea study from the company.
Telenet has completed the sale of its mobile tower activities to Belgium Tower Partners, part of DigitalBridge Investments. The acquisition was announced on March 25, for a total value of 745 million euros.
FMR has an interest of more than 5 percent in Galapagos, after the purchase of shares on May 27.
Wall Street closing positions
The S&P 500 index fell 0.8 percent to 4,101.18 on Wednesday, the Dow Jones index fell 0.5 percent at 32,812.97 points and the Nasdaq fell 0.7 percent at 11,994.46 points.
Source: ABM Financial News
From Beursplein 5, the editors of Financial news from ABM keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make.