The AEX closed 0.7% lower at 789 points, after having dipped to 784.4 points around half past ten and having tapped a daily top of 791.9 points around half past one. The damage for the AMX is much greater at 1.6% on 1096 points.
The German DAX (-1.5%), the French CAC 40 (-0.9%) and the British FTSE 100 (-0.8%) posted slightly larger losses.
When the European stock markets close, the Dow Jones is 0.2% and the Nasdaq index 0.8% lower.
‘Down with the caps with 800 points’, that is how stock trader Cees Smit of Today’s Beheer typifies the mood in Amsterdam on Wednesday.
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The market is looking for new impulses, according to brokers. Investors fear that the ECB will give a signal on Thursday to reduce support earlier.
“The peak of the growth recovery in Germany and the eurozone is behind us. Add to that the fact that inflation continues to rise and the thought that the European Central Bank could announce tomorrow that it will soon start phasing out the emergency-buying program, and you have some arguments for taking some profits.” says Simon Wiersma, investment manager at ING.
Lighting producer ends with the main funds Signify with a minus of 4.2% at the bottom. Payment Processor Adyen falls 2.1%.
Philips is also down 2.1%, thanks to a buy recommendation from Jefferies, at a price target of $55. Analysts appreciate fundamental growth and believe that the healthcare technology company has been punished too harshly for the ventilator recalls in the United States.
Paint producer AkzoNobel drops 1% after a sales warning by competitor Sherwin-Williams.
The suppliers to the chip sector ASML (-1.1%) in ASMI (-1.2%) received a price target increase from Berenberg to €845 and €400 respectively. The German investment bank believes that ASML in particular can benefit from the growth in Chinese semiconductors, and maintains the buy recommendation for both.
KPN leads the AEX with a 1.6% price increase, out of relief that competitor T-Mobile is not being bought by a price fighter from India. Food and Cleaning Products Manufacturer Unilever gains 0.9%.
Post vault manager ends with medium-sized funds InPost 6.7% lower, in response to the release of disappointing quarterly results.
Air France KLM as the most traded stock gains 0.6% here. According to De Telegraaf, the government will come up with a solution for long-distance international travel.
energy company Scholt Energy wants to go to the Amsterdam Euronext stock exchange at the end of next week with the placement of six million shares for €16 to €19 each.
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