Exor, the Italian investment firm behind soccer club Juventus, was the biggest riser (plus 1.8 percent) on the AEX index on Friday. The Italian football club are still in contention for a place in the finals of the Europa League after Juventus managed to avoid defeat against Spanish side Sevilla on Thursday evening.
Mood in European stock markets remained cautious throughout the day. The reason appears to be continued uncertainty over whether the Federal Reserve will pause interest rate hikes. Continued uneasiness about the financial condition of US regional banks had a grip on the markets. Added to this are concerns about the impasse surrounding the US debt ceiling. For example, the International Monetary Fund (IMF) warned of “very serious consequences” for the US and the global economy if it defaults on its debt.
The AEX ended the trading day up 0.3 percent at 752.99 points. Midcap rose 0.6 percent to 934.34 points. Shares in Frankfurt, Paris and London rose as much as 0.5 percent.
The leading group in the main index on Tamrock was followed by Exor ING (plus 1.7 percent) and chemical distributor IMCD (plus 1.6 percent). Music label Universal Music Group and payments company Adeon closed the trading day with negatives of 1.3 percent and 1.4 percent, respectively.
Phillips was among the decliners, with a loss of 0.5 percent. A healthcare technology company has reached a $62 million settlement with the US Securities and Exchange Commission (SEC) over alleged corruption in China. In that Asian country, Philips would have unfairly influenced hospital staff to sell its equipment.
Among smaller funds, biotech Scientist Farming rebounded slightly after Thursday’s decline. The stock rose 6.8 percent, making it the best performer among small funds. Leiden reported its quarterly figures earlier in the day, which were not well received by investors. Farming later closed nearly 14 percent lower.
The euro was at $1.0859 against $1.0910 the previous day. U.S. crude was down 0.7 percent at $70.38 a barrel. Brent crude was also down 0.7 percent at $74.44 a barrel.
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