The European stock markets picked up somewhat on Tuesday after the boom in recent trading days. Attention continued to be focused on the trade dispute between the United States and China. Investors, however, were relieved that China did not lower its currency further after Beijing was accused of currency manipulation by Washington. On Monday, the Chinese lowered the yuan to its lowest level against the dollar in ten years.
The AEX index on Beursplein 5 was 0.3 percent higher at 542.44 points around noon. The main index lost more than 5 percent in the last two trading days. The MidKap rose 0.9 percent to 817.21 points. London, Frankfurt and Paris climbed to 0.9 percent.
Takeaway.com was the leader in the AEX with a profit of 3.4 percent. De Telegraaf reported that investor Aberdeen Standard Investments is opposed to the merger of the meal delivery company with Just Eat (plus 1.9 percent). Oil and gas group Shell was the largest decliner with a minus of 1 percent.
PostNL (plus 4.8 percent) was at the top of the MidKap. The postal company also won 4.8 percent the day before after better than expected quarterly figures. Aviation combination Air France-KLM climbed 2.4 percent after a recommendation increase by Bernstein. Stock market intermediary Flow Traders, which in the past benefited from the turmoil on the stock markets, fell 1.3 percent.
Deutsche Post DHL rose 4.7 percent in Frankfurt. The German postal service tightened its profit forecast for the year. Metro fell 6.7 percent. Two major shareholders do not agree with the acquisition of the German wholesale company by the Czech billionaire Daniel Křetínský.
Vivendi climbed 6.8 percent in Paris. The media group has discussions with the Chinese technology giant Tencent about the sale of an interest in Universal Music Group. Norwegian Air dropped 7.2 percent in Oslo after disappointing passenger figures from the Norwegian airline.
The euro was worth $ 1,1196 against $ 1,1192 a day earlier. The price of a barrel of American oil rose 0.5 percent to $ 54.97. Brent oil cost 0.3 percent more at $ 59.99 per barrel.