PostNL was once again one of the losers on the Amsterdam stock exchange after an earlier price loss yesterday. The overall mood in the equity markets remained cautious. Continued concerns about inflation continued to grip investors on the last day of February.
PostNL experienced a price drop of almost 9 percent on Monday after the opening of the books and lost another 0.4 percent on Tuesday. The postal and parcel delivery company saw turnover and profit fall last year and announced that it would cut up to three hundred jobs to save costs. According to top woman Herna Verhagen, the challenging circumstances are expected to continue in 2023.
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The main indicators on the European stock markets also fell on Tuesday. The main index at Beursplein 5 eventually fell 0.5 percent to 752.93 points. The MidCap fell 0.1 percent to 1016.50 points and the stock exchanges in Frankfurt, Paris and London lost to 0.7 percent. Inflation in France rose again this month due to higher food prices. Life in Spain also unexpectedly became more expensive in February. The inflation figures for the entire eurozone will be published on Thursday.
Healthcare technology company Philips was the largest faller in the AEX with a minus of 2.3 percent. ING led the way with a plus of 1.2 percent. Oil and gas group Shell, in turn, benefited from a recommendation increase by analysts from AlphaValue/Baader and gained 0.1 percent. Business newspaper FT also reported that Shell was considering not only leaving the Netherlands a few years ago, but even leaving Europe and becoming an American company.
Among the smaller companies, Azerion gained more than 16 percent. The game maker saw a significant increase in turnover last year and is counting on further growth this year. Kendrion lost more than 2 percent despite a record turnover of the producer of electromagnetic components in 2022.
In Frankfurt, Bayer fell almost 4 percent. The German chemical and pharmaceutical group posted more turnover last quarter. The company also pays more dividends. However, Bayer expects a lower profit for this year.
The euro was worth $1.0600, up from 1.0558 the day before. A barrel of US oil cost 2.2 percent more at $ 77.36 per barrel. Brent oil became 1.8 percent more expensive at $ 83.95 per barrel.