European stocks calm on Friday

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The European stock exchanges were light in the green on Friday mid-afternoon. Statements by the Federal Reserve Bank of New York boss sparked the hope that the US central bank will lower interest rates later this month. At the Damrak, bed seller Beter Bed stole the show after a quarterly update.

The AEX index on Beursplein 5 recorded 0.1 percent higher at 527.45 points shortly after the start of trading in New York. The MidKap climbed 0.4 percent to 809.34 points. Paris, Frankfurt and London rose 0.2 percent.

Beter Bed made a price jump of over 21 percent. Before the end of this year, the bed vendor is partially or completely leaving his German retail chain Matratzen Concord, which is struggling with the aftermath of a poison scandal. According to the company, various parties have already shown interest in that chain. Beter Bed also receives a loan of 7 million euros from three major shareholders.

The leader in the AEX was biotechnology company Galapagos with a profit of 7.3 percent, after it became known that investor Aat van Herk has increased his stake in Galapagos to above 10 percent. ING was the largest drop with a loss of 1.8 percent.

Accell improved 1.2 percent at the smaller companies. The bicycle manufacturer saw a significant increase in turnover in its most important markets in the first half of the year. Amsterdam Commodities (Acomo) rose 6.5 percent. The tea, spice and nut trader managed to boost margins in the first half of the year and spoke of a “slight improvement” in market conditions.

Bayer won 0.8 percent in Frankfurt. The compensation of 2 billion dollars that the chemical company must pay to a couple in the United States because of the weed remedy Roundup is too high, according to a judge. AB InBev climbed 5.8 percent in Brussels. The brewer sells the Australian Carlton & United Breweries to the Japanese beverage manufacturer Asahi for around 10 billion euros.

The euro was worth $ 1,1226 against $ 1,122 a day earlier. The price of a barrel of American oil climbed 0.4 percent to $ 55.53. Brent oil cost 0.6 percent more at $ 62.28 a barrel.

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Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

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