Market Information Wednesday 16 October 2024

European stock markets closed lower on Tuesday, mainly due to losses in the oil sector following falling oil prices and a profit warning from ASML in the semiconductor sector. The broad STOXX Europe 600 index ended 0.8 percent lower at 520.57 points, with a sharp drop in the afternoon after ASML’s figures were leaked. In Frankfurt, the DAX fell modestly by 0.1 percent to 19,486.19 points, while the CAC 40 in Paris lost 1.1 percent to 7,521.97 points. The London FTSE 100 closed 0.5 percent lower at 8,249.28 points.

The Dutch government is once again reducing its stake in ABN Amro, cutting its shareholding via NL Financial Investments (NLFI) from 40.5% to 30%. This is the third time the stake has been reduced, after it was already lowered in two steps from 56.3% last year. This move raises questions about the future of ABN Amro, particularly as the bank is seeking a new CEO and the European banking sector may be on the verge of a consolidation wave.

United Airlines has announced plans to buy back $1.5 billion worth of its own shares, equivalent to around 7 percent of its market capitalization. The American airline company made the announcement on Tuesday. Share buybacks had been suspended since 2020 due to the coronavirus pandemic, which had severely disrupted air travel at the time.

The 6M Euribor is unchanged at 3.06% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.42% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.