Ageas newsroom

Week 42: DEFCON 1

Thank god it’s Friday. Not only because Ageas’s shares closed up 3.56% that day but it also marked the end of a pretty intense trading week: Ageas’s shares closed respectively +1.21% (on Monday), -0.14% (Tuesday), -2.90% (Wednesday), -3.07% (Thursday) and +3.56% (Friday). Over the entire trading week Ageas’s shares moved 1.49% lower while the Euro Stoxx 50 Index lost 1.03%. On Thursday it felt a bit like equity investors had moved to DEFCON 1 (as you probably know DEFCON is short for DEFense readiness CONdition which describes the level of readiness for the U.S. military ranging in severity from DEFCON 5 (least severe) to DEFCON 1 (most severe)). Just to give you an idea of the sheer size of the bombshell that hit equity markets: at its low point on Thursday the Euro Stoxx Index was 6.7% lower on the week (and 15.5% from the September’s high). Calculated in billions the move was also very impressive: the Bel20 Index companies alone lost in the month of October around EUR 28.5 billion in market capitalization at the Thursday low. Luckily on Friday the crisis seemed averted, investors moved back to DEFCON5, as the Euro Stoxx 50 Index jumped 3.05% while Ageas’s shares closed 3.56% higher erasing most of the earlier losses.