The Amsterdam AEX index closed slightly lower on Wednesday. Investors’ attention was mainly focused on new figures on US inflation. Among the companies in the key indicator on Damrak, insurance company ASR again took the lead. Paint maker AkzoNobel is under pressure again.
The AEX ended 0.2 percent lower at 734.93 points. Midcap declined 0.3 percent to 849.26 points. Benchmarks in Paris and Frankfurt showed declines of 0.3 percent. London slipped slightly after a sharper-than-expected contraction in the British economy in July.
Inflation in the US was slightly higher than expected in August. The US Federal Reserve will make an interest rate decision next week and the Federal Reserve is expected to hold off on interest rate hikes. An interest rate decision by the European Central Bank (ECB) is scheduled for Thursday. It remains to be seen whether the interest rates will increase further.
As on Tuesday, ASR topped the AEX with a gain of 1.6 percent. Chip major Besi edged up 0.9 percent, recovering somewhat from the previous day’s sharp price drop. AkzoNobel posted a 1.3 percent loss. On Tuesday, the stock fell more than 4 percent. Steel group ArcelorMittal was bottom with a 2.1 percent loss.
At MidKap, fitness chain Basic-Fit posted a 2.3 percent gain. Industrial giant TKH Group fell again with a 1.7 percent loss. Pharmaceutical supplier Facron and specialty chemicals company Corbion had the worst day with declines of up to 1.7 percent.
In London, oil and gas group BP (minus 2.7 percent) can count on interest after CEO Bernard Looney left immediately due to past relationships with colleagues. He has been at the helm of BP since early 2020. Looney will be replaced on an interim basis by finance director Murray Auchincloss.
Inditex fell 0.3 percent in Madrid. The owner of clothing chain Zara posted a record profit in the first half of the year, thanks in part to higher prices, but investors expected more.
The euro was at $1.0732, down from $1.0727 the previous day. U.S. oil was up 0.2 percent at $88.98 a barrel. Brent crude was also up 0.2 percent at $92.26 a barrel.