AEX drops with selling pressure in oil and steel | Financial

The AEX index ends 0.7% lower at a position of 769.78 points. The AMX is down 0.5% to 1089.4 points.

The mood on the Damrak was weighed down by Chinese retail sales and industrial production, which rose less sharply in July than expected. As a result, China’s economic recovery appears to be weakening, partly due to the Delta variant of the corona virus and floods.

Despite a poor start to the new week, asset manager Richard Abma (OHV) still sees a bright future. “The climate for equities remains good. Most corporate figures have been positive in recent weeks. Central banks also continue to stimulate and interest rates are low.”

The conquest of Afghanistan by the Taliban caused little turmoil on the stock markets on Monday. “In the long run, this could pose a risk to unrest in the world,” Abma warns.

The earnings season, in which many companies report results, is now almost over. Later in the week, the Dutch builders BAM and Heijmans and payment company Adyen will come with results.

Investors are also looking forward to the minutes of the Federal Reserve, the system of central banks in the US, which will be released on Wednesday. “It is still too early for the Fed to step on the brakes aggressively. Perhaps they will confirm that in the minutes,” explains wealth strategist Abma.

Prosus at the bottom

Dives in the AEX Prosus 3.8% down. The tech investor is suffering from the 4% fall in the price of its shareholding Tencent on the stock exchange in China. Prosus also reported that its capital restructuring has been completed, increasing the number of freely tradable shares from 27% to approximately 60%.

Royal Dutch Shell (-2.3%) is also under pressure due to a significant cooling of the oil price. The energy giant also received a buy recommendation from analysts from AlphaValue/Baader. Steel manufacturer ArcelorMittal loses 2.1%.

Chemicaliëndistributeur IMCD posted a profit of 0.6%. New frontrunner Aegon is still 0.9% higher after the good course of business in the past week.

There is a parcel deliverer in the AMX PostNL (+1.6%) the biggest riser. TKH however, is in the rear with a minus of 2.4%. The technology group will release its half-year figures on Tuesday.

Aviation group Air France KLM drops 2%. Germany is going to reduce its stake in KLM’s competitor Lufthansa. In the coming weeks 5% of the shares will be put on the market. Berlin acquired a fifth of Lufthansa as part of the multi-billion dollar aid package to guide the group through the corona crisis.

At the small-cap funds, developer and operator of logistics real estate CTP (Incl.) managed to buy the Amsterdam Logistic Cityhub business park under construction. The company of billionaire Remon Vos will pay €307 million for this, which, according to the company, is the largest sum ever paid in the Netherlands for a single piece of logistics real estate. CTP has been listed on the Amsterdam stock exchange since March.

There may soon be a newcomer at Beursplein 5. Handelsblatt business newspaper reports that the German media group Bertelsmann wants to list its Luxembourg subsidiary Majorel this autumn. Bertelsmann would op a business value of up to €3 billion for the call center operator.

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