Blue-chip index closes under 400 points

Amsterdam stock exchange’s blue-chip AEX index closed at 391.98 points on Friday, some 10 points down on Friday’s opening.

It is the first time since November 2005 that the AEX has closed under 400 points.
Financial services group SNS Reaal was the main loser, closing down almost 13% after a JP Morgan analyst said he expected the bank to make write-offs, reports news agency ANP. SNS denied having financial problems.
A negative Merrill Lynch report about European insurance companies, which mentioned Aegon and ING, affected their share prices.
Philips also lost 6% after a negative analysts report.

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