ABN Calmly Leading Damrak, Towards Fed Announcement | Financial

At around 1 p.m., the AEX index was flat at 558.7 points. The AMX also stayed close to home at 741.3 points. Elsewhere in Europe, the German DAX index outperformed the French and British stock markets by 0.5%. In Frankfurt, Wirecard made a price jump of over 139%. The German payment company will continue its business activities for the time being.

The eurozone economic confidence rebounded slower than analysts expected. The European Commission’s Economic Confidence Index was 75.7, up from 67.5 a month earlier, but economists estimated it to be 80.

The number of people worldwide who have died from the coronavirus now exceeds half a million. The U.S. has the most recorded infections and deaths. The aggressive revival of the lung virus in states such as Texas and Florida forced local administrations to brake on the gradual opening of the economy.

More damage

,, We are not yet released from corona. That realization also seems to penetrate the financial markets, ”says analyst Simon Wiersma of ING. “The economic damage will continue to increase as the return to normal takes longer. Support from governments and central banks may ease the pain for a while, but they are not a vaccine or a medicine. ”

New York stock exchanges open this afternoon. Futures for the Dow and S & P500 are up 0.3%. Tech fair Nasdaq is heading for a loss. Tonight semiconductor Micron will publish quarterly results.

The stock exchanges in New York are closed this Friday in honor of American Independence Day. The Japanese Nikkei index closed 2.3% this morning.

“It will be a quiet day. The market is looking ahead in particular to statements made by Federal Reserve Chairman Powell on the economy on Tuesday, ”said ABN Amro trader Frank Bonsee. ,, On Thursday the American job figures, the non-farm payrolls, will provide more insight: the figures have varied so much in recent weeks. What are the revisions, what are the current figures. That will be tense. ”

Brent oil dropped 1.2% to $ 40 a barrel. The euro strengthened by 0.4% to $ 1,126. The German ten-year government loan rose slightly to -0.470%. Bitcoin remained close to $ 9107.

In the AEX benefited Adyen (+ 2%). Investment bank Morgan Stanley raised its price target for the payment service provider from € 1,200 to € 1,485 with unchanged ‘overweight’ advice.

But ABN Amro became slightly more valuable with a 2.4% profit. Incidentally, financial values ​​were also included Aegon (+ 1.7%) in ING (+ 1.6%) positive.

Steel manufacturer ArcelorMittal headed 0.8% in green. According to daily newspaper Le Figaro, six parties have reported for the takeover of the French steel factory in Hayange, including ArcelorMittal. British Steel, Liberty Steel, Greybull, Saarstahl and Jindal would also prey on it.

Unilever (-2.6%) was the biggest loser among the main funds. The food and detergent group suffered from sales advice from investment bank UBS.

In the food corner were also Ahold Delhaize (-0.5%) in Heineken (-1.1%) at a loss.

The AEX was also pulled down by stock market heavyweight Royal Dutch Shell (-1.2%). Real estate fund Unibail 1.9% was written down.

Lighting producer performed in the AMX Signify (+ 2%) the winners. Industrial supplier Aalberts was allowed to add 1.6%. ING raised its target price for the Aalberts share from € 27.50 to € 35 with unchanged buying advice.

Real estate fund WDP (-3.4%) was at the bottom among medium-sized funds. Altice Europe was worth 2.3% less. Asset manager ODDO BHF lowered the investment advice for the cable and telecom provider from ‘buying’ to ‘neutral’ at a price target of € 3.90.

SBM Offshore (-1.1%) announced that they are starting work on an Australian liquefied natural gas (LNG) project. The maritime service provider signed an agreement for this with Transborders Energy. Financial details were not provided.

Smallcapfonds Vastned rose 1.2%. Major shareholder Aat van Herk wants both the full management and the supervisory board of the retail property fund to leave. The investor feels “not taken seriously” and believes that too much money is lost at the company. Van Herk owns almost 25% of Vastned.

Several shareholders of the empty exchange case Lavide (+ 1.7%) have little confidence in CEO Salar Azimi. That became clear during Het shareholders’ meeting last week, according to Het Financieele Dagblad. The company’s commissioners talk to Azimi.

Core Laboratories lost 3.7%. ING has lowered its price target from $ 33.50 to $ 21.00 with unchanged holding advice, due to the negative impact on the corona outbreak business and the resulting fall in the oil price and lower investment in the oil and gas sector .

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