Economy

Chips and steel loved by calm fair | Financial

The AEX is slightly before four hours 0.1% lower at 650.9 points. The AMX rises 0.5% to 977.3 points.

The results on the other European fairs are also minimal. Stellantis makes its debut as a fusion product of Fiat-Chrysler and Peugeot parent PSA in Paris and Milan with a profit of more than 7%.

Volumes are low, partly because the US stock exchanges remain closed due to the Martin Luther King Day celebrations.

In Asia, the picture was mixed this morning, following reports that the Chinese economy grew more than 6% in December and 2.3% in the full year. That is the slowest pace in 44 years. But it is the only country that has closed the corona year 2020 positively. Economic growth of 8% is forecast this year.

Brent oil is yielding about 10% profit this year. The signals for oil are still green, said ING commodities strategist Warren Patterson: “We see significant interest from major investors in rising inflation expectations. They foresee economic growth and want to link up with investments in commodities. The dollar is falling and that decline does not seem to be disappearing for the time being. That is beneficial for raw materials. ”

Corona care

Rabobank economist Stefan Koopman attributes the reluctance among investors in Europe mainly to the delay in the distribution of the corona vaccines. “Moreover, it had also been very fast in recent weeks.”

Although further tightening of the corona measures is imminent in various European countries, Koopman is not very concerned. “There is prospect of an economic recovery from the summer onwards when the economies are expected to open up again. Delays could occur if the virus mutates in such a way that the vaccines become less effective. ”

Investment strategist Wim Zwanenburg of Stroeve & Lemberger also sees this as one of the biggest risks, but, like Koopman, estimates the chance of a substantial stock market correction to be low. “The new US president Joe Biden is pulling the wallet and central banks continue to offer support.”

Koopman expects little from the meeting of the European Central Bank on Thursday afternoon. “This one is getting boring. Lagarde will probably emphasize that the previously issued economic expectations are still valid and that the stimulus program does not need to be adjusted. ”

Investors are also awaiting the upcoming quarterly figures. Investment strategist Wim Zwanenburg of Stroeve & Lemberger sees it quite positively, although the official kick-off by American banks on Friday was disappointing. “I think Netflix will come up with a good quarterly report on Tuesday evening. Competition has increased, but Netflix still has the best offer and the option to increase subscription prices. I also think ASML will report a well-filled order book on Wednesday. There are shortages of chips in the automotive sector and working from home still offers a lot of growth prospects. ”

Akzo turns red

Retail property fund Unibail-Rodamco-Westfield is at the bottom of the AEX with a loss of 3.7%.

Ahold Delhaize loses 2.6%. The Canadian Alimentation Couche-Tard stops its attempt to take over the French Carrefour, after resistance from the French government.

AkzoNobel goes down 2.1%. With a bid for its Finnish sector colleague, the paint maker provokes a bidding war with the American PPG Industries.

Shell loses 1.3%. The energy giant also suffered from profit-taking on Friday, after the strong advance since the end of October.

On the plus side, the supplier gives to the chip sector ASMI 1.7% profit.

ABN Amro climbs 1%. Berenberg has become more negative about the European banking sector. But the investment bank finds laggards like ABN and ING, who received a hold and buy advice respectively, relatively attractive.

Steelmaker ArcelorMittal wins 1.8%, after an advice increase to outperform from Credit Suisse, on a target price of $ 24.

Data provider Wolters Kluwer takes 0.4%.

The medium-sized funds include real estate fund Eurocommercial Properties with a loss of 3.1% at the bottom.

Soil researcher Fugro fell 2.3%, after being taken off the buy list by Degroof Petercam.

Air France KLM loses 1.9%, on reports that the talks between the French and Dutch states about a new capital injection are very difficult. Partly for this reason, the British bank HSBC has lowered its target price to € 2.50.

Logistics service provider WDP leads with a plus of 2.7%.

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