Relief on Italy gives air to the fairs

AMSTERDAM (ANP) – The main European stock market indicators are closed on Monday. Financial funds rebounded after reports that the Italian government could still adjust its controversial budget plans. In addition, investors processed information regarding the Brexit deal.

The AEX index closed up 1% to 518.91 points. The Midcap rose 0.9% to 701.2 points. The London, Frankfurt and Paris stock markets climbed 1.5%, compared to 2.8% in Milan.

Monday's summit is scheduled in Italy on budget estimates previously rejected by the European Commission. The high budget deficit is particularly difficult in Brussels. Deputy Prime Minister Luigi Di Maio said that he could live with a reduced budget deficit, but details about it are unknown.

Financial Institutions

In Amsterdam, banks and insurers were in the upper regions with major funds, after The concerns over Italy in recent weeks had been a big problem. ING, ABN AMRO, Aegon and NN Group gained up to 2.2%. Financial institutions have also grown considerably elsewhere in Europe.

In the AEX group, the telecom company KPN (plus 5.8%) was the largest group up after the announcement of Brussels approval of the takeover of Tele2's Dutch operations by T-Mobile. Altice won 5.5% after last week's heavy losses. Unilever was in last place with a negative rate of 1.1%.

Annual figures

Esperite lost 13.8% in the local market. After several delays, the stem cell bank has finally released the annual figures for 2017, but without the mark of approval of his accountant. The loss amounted to 12.9 million euros in 2017.

In London, Flybe gained 33.5%. According to the Sunday Telegraph, IAG, the parent company of British Airways, also plans to make an offer for the struggling regional airline. On Friday, this share had risen more than 70 percent after Virgin Atlantic confirmed talks with Flybe over a takeover.

The euro was worth 1,1339 USD, against 1,1335 USD on Friday. The barrel of American oil cost 2.5% more to 51.67 dollars. The price of a barrel of brent rose 2.9% to 60.51 dollars per barrel.