The AEX index got better and better and ended with a 2.1% profit at 552.05 points. The AMX headed 1.3% higher to 799.71 points.
Elsewhere in Europe, stock markets were also buoyant. The German DAX index gained 1.5%, the French CAC 40 gained 1.3% more.
Pharma company AstraZeneca (-0.9%) and the University of Oxford caused a stir before the market: they interrupted the development of their corona vaccine after an unexplained disease was found in a test subject. But markets quickly recovered, when UK Health Secretary Matt Hancock said this was “not a major setback.”
According to Richard Abma, asset manager at OHV, the strong rebound in prices was fueled by the hope of additional stimulus from the European central bank (ECB) that will announce the interest rate decision tomorrow. “The expensive euro is a thorn in the side of the ECB. Negative inflation in the eurozone is also a source of concern. There is therefore a chance that ECB president Christine Lagarde will hint in the explanation of further quantitative easing. ”
In addition, he points out that the extensive fiscal stimulus from governments puts a support under the prices. “It is mainly a question of waiting until a corana vaccine is available and economic activities return to normal. We expect to see more dips in the market in the near future, partly because of the low trading volumes, but that will probably be seen by investors as a buying opportunity. The very low interest rate plays a major role in this. ”
The drying up of the recent wave of tech funds on Wall Street also fueled investor risk appetite. For example, car manufacturer Tesla was embraced again after the dive a day earlier. Cees Smit, trader at Today’s, emphasizes that investors are back in the market after the depressed state of affairs on Tuesday. He points out that despite the up and down movement since late last week, downside risks have prevailed. “The setback with AstraZeneca’s promising corona vaccine is particularly worrying. In addition, the tech rally seems to be on its last legs and the Brexit that has been taken for granted for a long time is in the spotlight again. The revival of corona infections in many countries is further detrimental to the coming production figures. In addition, Trump is again at odds with China. ”
KPN and Shell embraced
In the almost entirely green-colored AEX, KPN posted a 2.8% exchange rate gain. With this, the telecom concern in the slipstream went along with the good course of events among European peers. Insurer Aegon also had a nice day and gained 3.1%. Galapagos that was hit hard last month, took the lead. The price of the biotech fund rose 5%.
Oil and gas concern Shell was in a nice recovery with a plus of 2.1% after the deal with US-based Kosmos Energy to acquire its interests in exploration projects for $ 100 million. The rebounding oil price above $ 40 a barrel also helped.
Heavyweight Unilever sprinted 3.8% forward. The food and detergent supplier stated that it expected sufficient support from its shareholders to give the group a fully British structure. The vote of the Dutch shareholders is scheduled for the end of this month.
Just Eat Takeaway on the other hand, had to give up fractionally.
Vopak fuels profit
The medium-sized funds included tank storage Vopak (+ 2.9%) on the rise. Real estate fund Eurocommercial Properties held the lead with a price jump of 6.3%.
Basic-Fit by contrast, 1.2% lost despite Pelham Capital expanding its stake to 5.06% in the fitness chain.
Accell, the holding company with some thirty bicycle brands such as Batavus, Sparta and Koga, rose 4.7%. It received a purchase recommendation from ING, with a target price of € 30.
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.