Stock market trading is further dominated by the American jobs report, which will be published later in the day. The situation on the labor market plays an important role in the Federal Reserve’s interest rate decision. The central bank kept interest rates unchanged this week because inflation is still too high. Earlier, Fed Chairman Jerome Powell announced that the strong labor market also gives the central bank more time to wait for the effects of the previous interest rate increases.
Music group Universal Music Group (UMG) and biotechnologist Galapagos also provided figures. UMG saw revenue increase last quarter thanks to successful releases from artists such as Taylor Swift, Ariana Grande and Noah Kahan. In particular, revenues from songs played via streaming services increased. There was a significant decline in sales of physical CDs or vinyl records.
Higher beginning
Galapagos recorded more turnover in the first quarter and achieved a net profit of 23.5 million euros, after a loss of more than 11 million euros a year ago. At the end of March, the company still had around 3.6 billion euros in cash.
The AEX index is heading for a higher start. Asian stock markets showed a mixed picture on Friday. The Hang Seng index in Hong Kong rose 1.5 percent, led by Chinese tech companies. The stock markets were closed in Tokyo and Shanghai.
Aperam
Stainless steel producer Aperam and secondment company Brunel also opened their books on the Damrak. Aperam saw turnover increase compared to the fourth quarter of 2023. However, the company suffered a net loss. According to CEO Timoteo Di Maulo, the sector has been in a downturn for seven quarters in a row. Brunel saw its turnover increase by 10 percent last quarter. The operating result did decline due to a negative effect of the number of working days.
The euro was worth $1.0733, compared to $1.0707 the day before. A barrel of American oil cost 0.3 percent more at $79.18. Brent oil also became 0.3 percent more expensive, at $83.90 per barrel.
