European stocks cruise to the good weekend

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The Amsterdam stock exchange is expected to open slightly lower on Friday. Elsewhere in Europe, stock markets are also likely to start with small price results. Investors seem to be taking some gas back after the recent strong price gains and are particularly looking forward to the important US job report, which appears later in the day. A figure about German industrial production was disappointing beforehand.

KPN is in the spotlight on the Damrak. The telecom group wants to appoint Dominique Leroy as new chairman of the board. The Belgian comes from fellow industry partner Proximus and starts on 1 December. Leroy becomes Maximo Ibarra’s successor. He is working on his last month at KPN before switching to Sky Italia. In an interview with the French-speaking Belgian newspaper L’Echo, Leroy announced that a merger between KPN and Proximus is not immediately apparent.

Maritime oil service provider SBM Offshore announced to enter into a long-term supply agreement with the American oil and gas group ExxonMobil for possible future orders for production and storage vessels (FPSOs). No financial details about the agreement were reported.

TomTom

TomTom announced that it had signed a deal to integrate its navigation with the Microsoft Connected Vehicle Platform. Information can therefore be sent from vehicles to Microsoft’s Azure. Via this cloud service the data can be used by automakers to improve products and services and in the field of autonomous driving.

Clothing store company FNG, which is listed on the stock exchange in Amsterdam and Brussels, has seen its turnover rise in the last six months. According to the owner of clothing stores such as Claudia Sträter, Miss Etam and Steps, the half-year figures show that revenue “is evolving positively to EUR 534 million a year.”

Finished with a profit

The European stock markets closed on Thursday mainly with a profit. The AEX index climbed 1 percent to 569.10 points and the MidKap also won 1 percent to 823.51 points. Paris and Frankfurt gained up to 1.1 percent. The London FTSE fell 0.6 percent due to the political difficulties surrounding the Brexit. Wall Street also improved. The Dow-Jones index finished 1.4 percent higher at 26,728.15 points. The broad S&P 500 climbed 1.3 percent and the Nasdaq technology fair rose 1.8 percent.

The euro was worth $ 1.1038, against $ 1.1447 a day earlier. The price of a barrel of American oil fell 0.1 percent to $ 56.30. Brent oil dropped 0.1 percent to $ 60.90 a barrel.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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