The AEX ends 0.8% higher at 718.41 points, the highest closing level ever and an intraday peak of just above 719 points. The AMX rises 0.7% to 1056.9 points.
Most other European stock exchanges are also gaining ground.
The disappointing US jobs report dampened investors’ fears of an overheating of the American economy and a possible early winding down of fiscal and monetary support. In total, 266,000 new jobs were created in the past month. Economists had previously expected job growth of 1 million. Unemployment rose slightly from 6% to 6.1%. Philip Marey, economist at Rabobank, emphasizes that there was a significant increase in jobs in the hospitality industry, but that a decline was visible in other sectors. He points out that the very generous corona support may have dampened the enthusiasm to get back to work. “The Biden government has shot itself somewhat in the foot. However, with the successful roll-out of vaccination in the US, it seems that it is only a matter of time before the labor market starts to improve significantly. ”
Vinent Juvyns, strategist at JP Morgan, sees economic overheating as the biggest risk. “Our base scenario is that inflation will temporarily shoot up to around 3.5% in the US and towards 3% in Europe, before falling back to 2% next year. I do not think that bond yields will rise sharply on this in the coming months, because they are mainly dependent on future inflation. But we remain vigilant. ”
From this perspective, the investment strategist clearly prefers equities over bonds. “We think cyclical stocks will do relatively well in the short term. However, we also remain positive about technology stocks, especially for the medium to long term. ”
Book with the Dutch main funds ArcelorMittal a gain of 2.3%. The steel giant was already in demand on Thursday thanks to better-than-expected quarterly figures.
Chip funds are doing well in the market due to a retreating movement in interest rates after the US banking dominator. ASMI picks up 4.7%. ASML gains 2.7%. BESI can add 2.5%.
The supplier to the food and pharmaceutical sector DSM yields 1.4%.
Food and cleaning products manufacturer Unilever drops 0.6%.
Keeps with the medium-sized funds Galapagos a gain of 1% on the announcement that from now on it will mainly focus on inflammatory diseases, fibrosis and kidney diseases. The biotechnology company is expected to run less risk with this and also save costs. KBC considers the decision to be sensible.
Air France KLM is getting off the ground with an increase of 4.1%.
Eurocommercial Properties climbs 1.8%, on the report that rental income remained stable in the first quarter.
Steel producer Aperam wins 2.3% after its grade publication.
The maker of charging stations and energy storage systems Alfen continues the downturn of the past few months with a loss of 1.7%.
The small caps fall Ordina with a price jump of 12.6% on. ING has raised the price target for the it service provider from € 3.60 to € 5.00, in response to the recently published better-than-expected quarterly report.
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