Economy

Investors buy en masse after stock market dip | Financial

The AEX closed no less than 2.5% higher at 714.1 points. The Midkap index went up 2% to 1046 points.

The indicators in London, Frankfurt and Paris rose by 1.7%, 2.1% and 1.4% respectively.

When the European stock markets closed, the Dow Jones index was up 0.3% and the Nasdaq index had gained 0.6%.

Tech funds in particular had a hard time on Tuesday after Janet Yellen, the US Secretary of the Treasury, indicated that interest rates may need to rise more quickly to prevent the economy from overheating. The Fed has always said that it does not expect an interest rate hike until 2024. Yellen later softened her statements, which largely subsided interest-rate fears. The ADP jobs report released this afternoon also provided support. The number of jobs in the US increased by 742,000 in April compared to 850,000, so that the economy does not seem to be overheating yet.

Asset manager Cees Smit of Today’s thinks that the rapid recovery of the stock markets is not the start of a much further rise. “There is more going on under the skin. The first dip on Tuesday may have triggered us to drop even further. It is also a sign that the peaks in Europe have not been tightened any further recently. A strong US labor market figure at the end of this week could potentially receive a negative reception as it confirms that the US economy is picking up strongly. Furthermore, it has Sell ​​in Mayeffect also has an impact on sentiment. “

Signify popular

Steel giant Arcelor Mittal ended in the lead of the Dutch main funds with a plus of 4.9% in the run-up to the figures publication on Thursday morning.

Lighting company Signify won 4.7%, after being put on the buy list by ING.

The suppliers to the chip sector ASML and ASMI climbed 5% and 4.6% respectively. Wolters Kluwer could add 3%. The media group is noticing the first signs of recovery from the corona crisis.

The supplier to the food and pharmaceutical sector DSM closed 4.4% higher, after the publication of better-than-expected quarterly figures.

Just Eat Takeaway lost 0.9% in response to the message in the Financial Times that competition in the home delivery market with Uber and Deliveroo, as well as smaller parties, will increase more and more.

Leading role OCI

In the Midkap shone OCI out with a price jump of 10%. The fertilizer company announced better-than-expected results with the increase in turnover and profitability. The trading update from TKH is also popular with the report about further growth in the order book. The technology company sees the share price picking up 6.4%.

Air France KLM was inferior with a 1.7% retreating move.

AScX fund Heijmans won 5.8%. The construction company can count on a ‘substantial claim’ from grid operator TenneT that canceled a contract for the construction of new high-voltage pylons in 2018.

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