Economy

Profit Damrak: Arcelor, tech and Basic-Fit seasonings Financial

After the 2.6% decline on Thursday, the AEX index recorded 0.5% at 552 points. The AMX was then 0.6% higher at 765.8 points.

Statistics Netherlands reported the largest turnover increase in Dutch stores in 15 years in June. Online sales increased by 45%.

Many European stock exchanges went in line with Beursplein 5. The French economy shrank 13.8% quarter on quarter, according to an update. The German economy shrank sharply on Thursday, but German retail sales rose further this morning, after a strong recovery in May.

European group reported varying figures. Bank BNP Paribas, for example, surprised itself with a significantly higher quarterly profit, mainly thanks to more trading customers. French-Italian eyeglass and lens retailer EssilorLuxottica reported a 29% year-over-year sales decline.

Tokyo is losing a lot

In Asia, the Nikkei declined by 2.8%. Tokyo reported a record number of corona infections. The Japanese yen strengthened, making exports expensive. The Hangseng index lost 0.3%. According to new figures, the activity of the Chinese economy rose faster than expected, but the number of corona patients also increased there.

Wall Street responded on Thursday to the 9.5% contraction of the United States’ economy in the second quarter year-on-year, and 32.5% quarter-on-quarter. The figure was slightly less than analysts expected. In New York, the Nasdaq index outperformed 0.5% on Thursday, where the Dow Jones lost 0.9% and the S&P 500 lost 0.4%. Technology company Apple won after-market 6%. The iPhone maker increased its quarterly sales by 11%. Amazon increased its sales by 40%, Facebook reported 10% more advertising revenue. Google (Alphabet) lagged slightly, with the first quarter ever showing sales decline. Chip giant Qualomm rose 15% after a deal with the Chinese network company Huawei.

The first futures for opening markets this afternoon are around 0.2% to 0.6% lower. Caterpillar, Chevron and ExxonMobil come with numbers.

Brent oil declined 0.6%. The dollar took a hit: the euro rose 0.4% to $ 1.1895, gold gained 0.6% more.

Steelmaker leads main index

Steelmaker joined the main funds ArcelorMittal with 2.1% in the lead. Payment processor Adyen plus by 1.6%, ASMI thickness by 2%.

After the more than 5% decline yesterday, Shell received a small price target increase to € 17 from Berenberg. His keep advice remains intact.

Air France KLM cut another 1,500 jobs this morning. Partly after historically poor sales figures. In June, CBS still reported a 93% decrease in travelers compared to last year. The French trade minister reported about the sister company Air France that nationalization is not on the agenda.

Fitness chain Basic-Fit saw sales decline 24%, responding with a quarterly loss to € 51.9 million, but sticking to its goals for this year in its quarterly results. Despite the crisis, it promises to open another hundred branches.

Logistics real estate fund WDP reported a higher quarterly profit, € 84.3 million compared to € 73.2 million a year earlier, with earnings per share € 0.49, almost 8% more than in 2020. The occupancy rate remained stable at 98.2 percent, a fraction more than at the end of December 2019.

Posting agent Brunel recorded 13% less turnover in the past quarter to € 223.4 million. The fall in turnover was less than feared. Particularly in German-speaking countries and in the US market, the company expects continued weak demand for its secondment and will reorganize there.

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