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  • Small gains on European stock markets
  • Small gains on European stock markets

Small gains on European stock markets

AMSTERDAM (AFN) – European stock markets advanced slightly on Tuesday. Investors were taking it easy after the recent strong recovery and are especially looking forward to the annual meeting of central bankers in U.S. Jackson Hole, which begins later in the week.

The AEX index on Beursplein 5 was 0.3 percent in the plus at 549.60 points in morning trading. The MidKap fell a fraction to 805.28 points. Stock market gauges in Paris, Frankfurt and London rose as much as 0.3 percent.

The strongest riser among the main funds on the Damrak was chemicals distributor IMCD with a gain of more than 2 percent. Steel group ArcelorMittal was at the bottom with a loss of 1.1 percent. In the MidKap, dredging company Boskalis closed the row with a minus of 1.9 percent. Fitness chain Basic-Fit led the way with a plus of 1.1 percent.

Avantium

Avantium dropped 7 percent on the local market. The chemical company posted lower sales in the first half of the year than the company had anticipated. The net loss increased to 12.6 million from 6.5 million euros. This was due to higher costs for the full integration of the former cooperation with BASF.

Osram Licht rose 2 percent in Frankfurt. Investors Bain Capital and Carlyle Group are considering raising their bids for the German lighting company, according to news agency Bloomberg. The parties recognize that their current offer of 3.4 billion euros is no longer high enough if Austrian sensor maker AMS (plus 0.2 percent) follows through on its rival proposal.

Casino

In Paris, Casino climbed 1.9 percent. The French retail group is divesting a further 2 billion euros worth of assets. The downsizing is intended to address the company’s large debt burden. Casino was already engaged in a 2.5 billion euro divestment round that should be completed in the first quarter of 2020. In London, miner BHP fell 2 percent after publishing its annual results.

The euro was worth $1.1076, down from $1.1095 a day earlier. A barrel of U.S. oil was 0.1 percent more expensive at $56.25. Brent oil fell 0.1 percent in price to $59.69 a barrel.

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