European stocks fell on concerns about higher US interest rates

European stocks fell on concerns about higher US interest rates

European stock markets plunged to a broad lead on Friday amid concerns among investors over a strong rise in interest rates in the United States. Federal Reserve Chairman Jerome Powell said he expects a 0.5 percentage point increase next month. In addition, the focus was on the companies’ multi-quarter results. Soil researcher Fukro, among others, came up with statistics about Tamrok.

The Amsterdam AEX index was down 1.3 percent at 719.29 points. Midcap was down 2.2 percent at 1068.74 points. London, Paris and Frankfurt stocks fell 1.8 percent.

On the AEX, the payment processor Adyen had the biggest decline with a loss of 4.6 percent. Philips, a healthcare technology group, is leading with 1.2 percent gain. ABN Amro hung at the bottom of the midcap with minus 7 percent. The stock is referred to as the former dividend. Flash Trader Flow Traders recorded strong numbers and gained 4.7 percent, making it the largest gainer in medium-sized funds. KBC Securities raises advice for Flow Traders

Among smaller companies, Fukro performed 1.8 percent better. Fukro said that due to the war in Ukraine, more orders have come in recently for gas and oil projects. Many countries want to eliminate Russia’s dependence on energy, resulting in green light for all kinds of new investments in fossil fuels.

Other companies in Beursplein 5 include bed seller Beter Bed (minus 0.2 percent) and retail property fund Wereldhave (minus 1 percent).

Elsewhere in Europe, there was interest in figures released by French carmaker Renault, which rose 2.7 percent in Paris. In Frankfurt, the results of software company SAP were underestimated as the stock lost 4.3 percent. This also applies to the quarterly report of the German steel group Salzgitter (minus 2.4 percent).

Investors received preliminary data on economic activity in the eurozone in April. According to market analyst S&P Global, activity has increased in Ukraine despite the negative impact of the war.

US oil fell 1.7 percent to $ 102.08 a barrel and Brent oil fell 1.6 percent to $ 106.63 a barrel. The euro was trading at $ 1.0805, up from $ 1,0843 a day earlier.

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