Transport Online – Amsterdam stock exchange sharply down due to interest rate fears
AMSTERDAM – The stock exchange in Amsterdam closed trading with a significant loss on Thursday. Investors are fearing sharper interest rate hikes. The euro-zone industry got off to a slower start last month than before, market researcher S&P Global reported. From the minds of chip companies to the losers on the news that some major US semiconductor companies are no longer allowed to sell advanced chips to China.
The AEX index closed 2 percent lower at 666.94 points. Almost all companies in the main indicator ended with a loss. The MidKap also fell 2 percent to 907.80 points. The stock exchanges in Paris, Frankfurt and London lost up to 2 percent.
Chip industry suppliers ASMI and Besi and chip machine maker ASML lost up to 3.6 percent. US chip developers Nvidia and AMD are involved in restrictions on their exports to China. The biggest loser in the AEX was steel manufacturer ArcelorMittal with a minus of 6.3 percent.
Interest Rate Increases
Fears of new interest rate hikes flared up due to new macroeconomic data from the United States. Jobless claims in the country were lower than expected last week and US manufacturing continues to grow. That gives the Federal Reserve room to raise interest rates again to curb.
Meanwhile, the dollar rose to a new all-time high against a group of currencies from countries and emerging economies. The euro was worth less than the US currency and traded at 0.9940 euros. This can also be boosted in euro countries, because import goods that have to be paid in dollars are becoming more expensive.
InPost
In the MidKap, InPost (plus 8.9 percent) was a positive outlier after well-received results. The Polish parcel locker provider saw second-quarter sales nearly double and maintained expectations for the full year. Fitness chain Basic-Fit, real estate company WDP and stainless steel maker Aperam have lost percent to 6.7.
In Paris, Pernod Ricard rose 0.5 percent after a record year for the French beverage group. Reckitt Benckiser fell 5.2 percent in London after news that the chief executive of the British personal care group is leaving at the end of this month.
A barrel of oil became 3.1 percent cheaper at $86.80. Brent oil, 3 percent less at $9229 per VAT.