After Wall Street ended on a negative note on Thursday, the European stock markets are now also down. Regional banks fell hard in New York, as investors worry about the quality of loan portfolios and the ability of banks to manage risks. Major banks were sucked down.
The financials also have to pay the price on the Damrak. CVC Capital loses 6.2 percent Aegon loses 5.5 percent percent, ABN Amro declines 3.1 percent despite a price target increase Deutsche Bank and ING must give up 3 percent. NN drops 2.5 percent and ASR 2.3 percent. Real estate fund WDP loses 1.4 percent despite good quarterly figures.
Must be in the Midkap Basic Fit gave up its opening profit of 0.9 percent and the share is now 0.2 percent lower after a good quarterly update. Builder BAM (-1.1 percent) continues to fall after the 17 percent fall on Thursday. Analyst Martijn den Drijver of ABN Amro Oddo had lowered his recommendation for BAM on Thursday, because he believes the share is much too highly valued.
Nedap rises in the AMS NEXT 20 3.6 percent after a price target increase by Berenberg and is an outlier in Amsterdam on an otherwise dark red stock exchange.
The main indexes elsewhere in Europe are also turning red with losses ranging from 0.9 percent in Madrid to 2 percent in Germany DAX. Financials everywhere have to take significant losses. Deutsche Bank, for example, is 5.9 percent lower
