The Amsterdam AEX index closed lower again on Friday due to ongoing concerns about the Middle East conflict. Oil prices rose despite President Donald Trump extending the pause in attacks on Iranian energy facilities by ten days.
The AEX ended the week down 1.1 per cent at 960.22 points, following a 1.3 per cent drop on Thursday. The MidKap index fell a further 1.6 per cent to 944.57 points, after losing 0.9 per cent a day earlier.
Elsewhere in Europe, Frankfurt’s DAX declined by 1.4 per cent, and Paris’s CAC 40 dropped 0.9 per cent. London’s FTSE 100 limited its losses to a slight decrease. On Thursday, these major European indices had already recorded declines of up to 1.6%.
Oil prices rose sharply due to concerns about a possible Iranian blockade of the Strait of Hormuz.
US crude rose over 4 per cent to above 98 dollars per barrel. Brent crude climbed 3 per cent to over 111 dollars per barrel.
Chip companies ASMI and Besi were the biggest fallers on the AEX, with losses of up to 5.7 per cent. Chemical distributor IMCD led the main index for a second day, gaining 2.2 per cent.
On the MidKap, BAM and Heijmans were among the biggest decliners, falling up to 4.7 per cent.
Basic-Fit, Galapagos and Air France-KLM also recorded losses of up to 4.3 per cent.
AMG led the index with a 2.2 per cent gain after a previous loss.
In Paris, Pernod Ricard rose 8 per cent. The group confirmed merger talks with US company Brown-Forman. Bloomberg had earlier reported the discussions, citing unnamed sources.
@anp | NEWS BRAINPORT
