The European stock markets showed strong gains on Thursday. Reports that China and the United States are in consultation to resume trade talks in September created investor optimism. In addition, attention was focused on political developments in Italy and the United Kingdom.
The AEX index on Beursplein 5 recorded 1 percent in the plus at 554.11 points around noon. The MidKap climbed 1.1 percent to 802.90 points. The stock exchanges in London, Paris and Frankfurt rose to 1.4 percent. The main index in Milan gained 1.9 percent. Giuseppe Conte can further rule as prime minister and may form a new cabinet in Italy. President Sergio Mattarela officially ordered him to do so on Thursday.
Steel group ArclorMittal led the AEX with a gain of 2.5 percent. Information provider Wolters Kluwer benefited from an advice increase by Bank of America and won 1.6 percent. Real estate group Unibail-Rodamco-Westfield led the scarce fall by 0.7 percent.
At the smaller companies, VolkerWessels plummeted 9.7 percent. The construction company expects, just like industry peers, that the nitrogen issue will have a “significant impact” on construction and infrastructure projects. Ajax climbed 1.4 percent on the local market. The listed football club earns at least 40 million euros with the placement for the group stage of the Champions League. The manufacturer of electrical components Neways fell 9.5 percent after a trade report.
Bouygues rose 5.7 percent in Paris. The French conglomerate saw a sharp rise in profits in the first half of the year. Pernod Ricard won 2.2 percent. The beverage producer will reward its shareholders, after the largest profit jump in seven years, by buying own shares. In London, Micro Focus fell 24 percent after a sales alarm from the IT company. In Brussels, the D’Ieteren car company (plus 9.4 percent) rose to the highest level in eight years, following a positive trade report.
The euro was worth $ 1.1075 against $ 1.1081 a day earlier. The price of a barrel of American oil was 0.7 percent higher at $ 56.15. Brent oil cost 0.1 percent less at $ 60.41 a barrel.