The AEX index ends 0.9% higher at 611.41 points. Despite the decline on Monday, November was one of the best months ever for the stock market indicator. The AMX rises 1% to 912.62 points.
Elsewhere in Europe there is also a good recovery. The British FTSE 100, the German DAX and the French CAC 40 gain up to 1.1%.
“Question marks on China”
A strong industry data from China provided support for prices on the Damrak. Activity rose to its highest level in ten years in November. The day before, the official figures from the Chinese government also pointed to continued growth. Stefan Koopman, economist at Rabobank, emphasizes that there are doubts about the ongoing good news show from China. He points out that after the corona crisis, the Asian country started mass production with the aim of shipping these products on a large scale to the rest of the world. “There may be a hitch in China’s enormous inventory build-up next year if the focus shifts more to services in Europe and America.”
The industry from America showed a cooled down picture. Activity slumped in November, possibly due to the impact of the tense US elections.
The news that Pfizer has submitted its corona vaccine to the European drug watchdog, EMA, also added to the cheery mood. According to Rein Schutte, investment advisor at Noesis Capital Management, the relief that the end of the pandemic and the lifting of the restrictions is in sight, a stimulus for investors to step into the underperforming stocks in particular. “The rotation will continue for some time to come. We also have to wait and see what the European Central Bank will do this month to stimulate the economy. ”
Optimism continues to predominate for investors on the Damrak, says Koopman. He points out that the economic pain in the fourth quarter due to the second wave of corona will be pushed into the background, while the expectation of a strong cyclical recovery in the coming year is leading with the arrival of corona vaccines. “Still, it remains to be seen how much permanent damage the recession has caused. It is important that governments do not stop stimulating too soon. ”
Schutte assumes that after the wonderful performance in November for the equity markets, there may be even more towards the end of the year. “The top year for the AEX set in February is probably still in sight with only economic figures in the offing. The danger still hanging over the market is that at the beginning of January the Democrats will win the two seats in the Senate and thus get a majority. Then the way is cleared for Biden to continue to implement his tax plans. ”
Koopman also takes into account that the dragging Brexit negotiations will have a positive outcome. “You hear positive voices from both sides in the deal talks. Especially fishing is still a tough one. We hope that there will be more clarity at the end of this week. ”
With the Dutch main funds Unibail-Rodamco-Westfield a plus of 5.4%. The improved view of the end to the pandemic gives the retail property fund support.
Galapagos gets 2.1% Bee. The biotechnologist reported having achieved positive results with a drug candidate in a phase 2 study in patients with pulmonary fibrosis. Steel concern ArcelorMittal is good for the lead with a 6% higher share price driven by the support from China.
Chip Fund ASMI comes to the surface with a progress of 3.5%. NN Group can add 3.7% with a final sprint.
Shell wins 2.4% after weakening considerably on Monday. Today a lawsuit by Milieudefensie starts against the oil giant. In addition, the OPEC + meeting has been postponed for two days because the oil-producing countries cannot agree on an extension of the production restriction.
ABN Amro leave another 0.4%. On Monday, the bank already fell in response to its strategy update, due to disappointment among investors about the return target and the dividend outlook.
Adyen is down 0.4%. The Netherlands Authority for Consumers and Markets wants large technology companies to make their platforms suitable for various providers of payment services.
Ahold Delhaize faces a loss of 1%. KPN yields 1.2%.
Unilever ended up at the bottom with a loss of 2.9%. The food company has only been under the British flag since last weekend.
With the medium-sized funds Air France KLM 3.4% forward. Aalberts is set 3.2% higher.
Soil researcher Fugro thickens 2.9%. Its shareholders agreed on Monday to a share issue of € 250 million. Eleven existing shares give the right to thirteen claims, with which new shares can be purchased at a price of € 2.12.
Smallcap AMG climbs 1.8%. The metals specialist’s partnership with Shell has signed an agreement with Saudi Aramco for the potential construction of a major spent catalyst recovery plant in Saudi Arabia.