AEX And DAX 30 Lead The European Field In July

The market sustained the earlier rally in July, resulting in a string of index records both as regards the CBS index as the Amsterdam EOE index. The upbeat sentiment was founded on increasing confidence in the economy, favourable expectations for the first-half figures of bourse-listed stocks, the continued low level of capital market interest rates and, last but not least the strong surge in the price of Philips shares. The bond market was also firm. Traders reported a slight shift into long paper, which indicates an increasing confidence in stable interest rates. Many foreign bourses were also bullish, but Amsterdam ranked among the top with a rise of 6% (from 432,38 to 458,13), together with the DAX30 (Frankfurt).