Economy

AkzoNobel colors the AEX green | Financial

After ten minutes of trading, the AEX index was 0.2% higher at 553 points. The AMX rose 0.3% to 801.7 points. The stock markets in London (-0.1%), Paris (-0.1%) and Frankfurt (+ 0.3%) remained close to Wednesday’s closing positions.

Elsewhere, stock markets were on the rise. The Japanese Nikkei index closed 0.9% up this morning. The US stock markets ended 1.6% to 2.7% in green on Wednesday evening. Wall Street is expected to open today with a gain of around 0.2%.

The ECB will almost certainly not announce any major changes this afternoon to interest rates or the massive buying program against the corona crisis. Investors will therefore be paying particular attention to central bank president Christine Lagarde’s explanation of any hints at the ECB’s next steps.

In the AEX was AkzoNobel the leader with a plus of 3.6%. The paint manufacturer came with a cheerful quarterly update. AkzoNobel sees continued improving trends in the third quarter and expects quarterly sales to be roughly the same as in the same period last year. The full quarterly figures will be published on October 21.

ASR (+ 0.5%) announced to resume its share buyback program. The insurer will still purchase € 24.3 million worth of its own securities. That is the remaining amount of the € 75 million program announced at the beginning of this year. The purchase of shares was temporarily suspended earlier this year after a call from De Nederlandsche Bank (DNB), among others, due to the uncertainty surrounding the corona crisis.

Heineken (+ 0.3%) announced that it was entering the Peruvian beer market. The brewer is acquiring the Tres Cruces brand and is also partnering with beverage producer AJE Group to further strengthen its position in the country.

ING (-0.2%) reported that it can take on new customers in Italy. The country’s central bank has lifted the previously established customer freeze for the financial group. Since March last year, ING has been on the “penalty bench”. This is due to flaws in the anti-money laundering policy.

Insurer Aegon (-0.8%) was the biggest drop among the main funds. Stock market heavyweight Royal Dutch Shell was written down 0.6%.

In the AMX was a financial service provider Intertrust in demand with a plus of 3%. Glasses and lens salesman GrandVision (-1%), on the other hand, was the biggest loser among medium-sized funds.

Small cap fund Kendrion (+ 1%) stated that they wanted to achieve at least 5% annual revenue growth independently for the next five years. The return must also increase, aiming for a margin of the operating result of at least 15% in 2025. The producer of electromagnetic components has suffered this year from the malaise in the car industry as a result of the corona crisis. The industry side is somewhat more stable and profitable in terms of results.

We stumble from crisis to crisis and that is because of the euro, says DFT reporter Martin Visser in a new episode of the podcast Matter of Cents.

Tags

Related Articles

Back to top button
Close
Close