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AP

April 6, 2023

UMG was up more than 7 percent, so it was AEX’s biggest loser. The reason was a negative analyst report from Exane BNP Paribas. TOMRAC’s key index rose 0.5 percent to 759.41 points, with banks ING and ABN AMRO leading the way with gains of nearly 2 percent. Shell gained (plus 1.8 percent) after a well-received quarterly update. In that briefing, the energy company said it still makes good money from gas trading.

Midcap rose 0.6 percent to 930.50 points. Shares in Frankfurt, Paris and London rose up to 0.5 percent.

IMCD Acquisition News

Chemicals distributor IMCD gained 0.6 percent on acquisition news. The company is acquiring an Indian supplier of plastics and polymers, which should strengthen IMCD’s position in the Asian country.

Attention also turned to tech giant Nedap, which saw turnover grow by more than a fifth in the first quarter. This was the result of a hold on the company’s systems supplies. The stock rose 1.4 percent.

Arcades

Consulting and engineering firm Arcadis fell 1.4 percent after announcing a new job in the US. The company is helping Siemens build a new factory for railcars there. Construction company Heijmans (up 0.2 percent) won a new contract. The group is renovating an academic building on the campus of Eindhoven University of Technology. The project generates a turnover of 33 million euros for Heijmanns.

Airbus gained 0.3 percent in Paris. The European aircraft manufacturer has announced the setting up of a second assembly line in China, which will double production capacity in the country. Automaker Stellandis announced it will make electric pickup trucks in the U.S. and gained 0.5 percent in Milan.

Euro and oil exchange rate

U.S. crude was 0.4 percent cheaper at $80.33 a barrel. Brent crude was down 0.3 percent at $84.76 a barrel. The euro was at $1.0902, almost unchanged from the previous day.