Market Information Tuesday 28 January 2020

The coronavirus has led to a global decline on the stock exchanges on Monday. The main European stock exchanges closed with a decrease of nearly 3%. The Amsterdam AEX-index dropped below 600 points for the first time since December 2019. In New York, both the S&P 500-index and the Dow Jones-index dropped by 1.57%. Investors fear that a viral outbreak in China will deliver a setback to the outlook for economic growth in China and accordingly for the global economic growth.

The global steel production has increased by 3.4% last year in comparison to 2018, according to figures from the World Steel Association. The 64 countries that are connected to the association had a combined production of 1,869 million tonnes of steel. The increase is mainly caused by the increase of production in China, which is responsible for more than half of the steel production. China increased its production in 2019 by more than 8%, compared to 2018.

The Netherlands Authority for the Financial Markets (AFM) should not stop monitoring the information included in the remuneration report of publicly listed firms. This according to investors organization Eumedion. Because of a new bill, publicly listed firms are obligated to publish information on the remuneration granted to board and supervisory board members in a different report than their annual reports. Since the AFM mainly monitors these annual reports, the supervision on remuneration information deteriorates with the new bill.

The 6M Euribor is unchanged at -0.32% compared to previous business day. The 10Y Swap decreased with 5 basis points to -0.02% 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.