AEX giants keep index below 600 points | Financial

The AEX was 0.4% lower at 599.3 points at 2 pm. The AMX fell 0.2% to 874.2 points.

Most other European stock exchanges also lost. The British FTSE 100, the German DAX and the French CAC 40 fell 1.4%, 0.4% and 0.5% respectively.

US index futures pointed to a slightly higher opening of the Nasdaq and a slightly lower opening of the Dow Jones, following the 0.8% to 1.6% plus on Monday.

Investors took it easy in volumes. Various stock market indicators hit the highest level in nine months on Monday in response to positive reports about corona vaccines.

The continuous rise in the number of corona hospital admissions in the US to a record on Monday weighed down the mood. The World Health Organization expressed “deep concern” in particular about Europe and the US.

“The market is consolidating somewhat, but it remains a solid trading day. The AEX is holding up well, after the futures dropped in New York after the close of the market and Asia underwent a turnaround, ”says trader Frank Bonsee of ABN Amro.

“The AEX will increase from 520 to 600 points in three weeks, which is strong. Then it is not uncommon for the index to briefly look for its level, and then continue from there. The quarterly figures of companies are over, the focus is on central banks that reported that they were considering additional support in December. ”

That investment banks Goldman Sachs, JPMorgan and Morgan Stanley all turned more positive about 2021 this morning also provided support. The German ZEW institute reported a 5 point stronger growth in China than previously calculated.

The euro rose 0.2% to $ 1.18747. Brent oil became slightly more expensive to $ 43.80 a barrel. Gold and silver remained flat. Bitcoin gained 0.3% to $ 16,760.

Steel loses

Data processor ended up at the Dutch main funds RELX at 1.8% loss at the bottom. The fund weighs 7.4% in the AEX. Steel giant ArcelorMittal joined the agency with a minus of 1.7% Randstad.

Food and detergent group Unilever – with 13.6% weighting in the AEX and Shell – with 11.8% weighting – followed with a drop to -1.3% and -0.8% respectively. The oil and gas group received € 116 million back from the British government in 2019 due to tax losses on investments in offshore projects and because the company received compensation in the United Kingdom for decommissioning old drilling rigs.

KPN won 0.6%. The telecom company reported that it was about half with the construction of a new nationwide mobile network.

Prosus declined 1%, despite a target increase from € 112 to € 128 by British bank Barclays. The tech investor reported on Monday evening in an interim report that the past six months had gone well and the consequences of the corona pandemic remained limited.

Index heavyweight ASML, with a 16.23% weight in the AEX, also recorded a slight loss.

Chemical and food producer DSM fell 0.3%. Berenberg increased his target price for DSM from € 135 to € 150 with an unchanged buy recommendation.

Insurer Aegon took the lead with a profit of 1.6%.

Just Eat Takeaway won 1%. On Monday, the meal delivery company was still the biggest decline, in the expectation that the vaccines will ensure that the restaurants open again in a few months.

ABN Amro rose 1.3%, in response to the announced departure of the CFO. After only three years in office, it is a “bad surprise”, according to analyst Jason Kalamboussis of KBC Securities. He is concerned that chief technology officer Christian Bornfeld is also leaving. The bank will present its new strategy and objectives at the end of November.

The market responded to takeover rumors: Spanish bank BBVA would negotiate the acquisition of Banco de Sabadell.

The medium-sized funds shone TKH with a gain of 3.4% off. The tech company has become less gloomy about the impact of the corona pandemic and raised its profit forecast. The profit adjustment upwards is no surprise, according to analyst Michael Roeg of Degroof Petercam, which uses a buy advice at € 48 price target.

Air France KLM went down 1.1% after the jump on Monday in response to the vaccine boost. EasyJet reported a loss of more than € 1.4 billion. The capacity has been reduced by 80%.

Biotechnology company Pharming was the largest decrease with a minus of 2%.

Smallcap Sif climbed 3.1% after winning an order for a wind farm off the coast of England.

The German biotech company Vivoryon rose 8%.

What should you do with your savings? Are stocks a good alternative in these uncertain times? Jim Tehupuring and Stefaan Casteleyn of 1Vermogensbeheer will give their vision on Thursday evening during a free webinar. Register for free.


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