AEX in good shape with a close below 600 points | Financial

The AEX index ended 1.2% higher at 599.21 points after rising slightly above the 600 point mark in late afternoon trading, the highest level since February of this year. The AMX index was 0.6% higher at 850.32 points.

Elsewhere in Europe the plates also turned green. Frankfurt and Paris were both able to add 0.5%.

“Sunny stock market climate”

According to Stan Westerterp, asset manager at Bond Capital Management, the very good news about Pfizer’s corona vaccine has opened the door for stock markets to continue their way up. “Underperforming stocks, such as Shell, could catch up in the near future with the prospect of a solid economic recovery once the pandemic has been suppressed and lockdowns be lifted. The low valuations of a large number of funds will also contribute to the sunny stock market climate. ”

Westerterp assumes that the dark clouds in American politics are transitory. “Trump is a very bad loser, but he cannot stop Biden’s appointment as new president. It remains to be seen whether Trump will be heard with decrees in the last weeks of his term in office. It will be exciting when the results of the elections go to the Supreme Court. ”

The fast approached deadline The departure of the United Kingdom from the European Union, which is scheduled for the end of this year, will increasingly dominate emotions, predicts Simon Wiersma, strategist at the ING Investment Office. “As time comes to close another Brexit deal, the turbulence in the stock markets will intensify.”

Wiersma takes into account that the large rotation from tech funds to value stocks that started this week will not be structural. “There was a Pavlovian reaction among investors to buy value stocks on the news about the corona vaccine because of the prospect of a significant economic recovery, but we have yet to get through the second wave of corona. In addition, there are still problems to be solved in the large-scale roll-out of the vaccine. ”

Prosus down

Tech investment fund was added to the main funds Prosus under pressure with a decrease of 3%. The fund could suffer from tighter rules for internet companies from China. According to Wiersma, it remains to be seen how much pain a tightening of the rules will mean for large Chinese internet companies. “The holding back of the Ant Group IPO earlier this month was already a sign on the wall.”

Unibail-Rodamco-Westfield fell 6.3% due to profit-taking. The retail property fund rose sharply in recent days after the boost about the vaccine.

ABN Amro zah the loss also increased further with a loss of 5.6%. Although third quarter profit was back, investors were not impressed by the third quarter performance. Rein Schutte, investment advisor at Noesis Capital Management also points out that the stock has shown a significant recovery in recent days. Branch colleague ING was worth 2.1% less.

IMCD posted a gain of 2.1%. The results of the chemical distributor were well received. According to CEO Van der Slikke, IMCD made more profit in the first nine months on slightly higher turnover. He sees further growth in his operating result for the full year.

Food delivery person Just Eat Takeaway also did good business and won 3.7%, Adyen held the lead firmly and maintained 6.1% thickness.

Heavyweight Shell received a buy recommendation, coming from ‘holding’ from Berenberg and was worth 1.8% more to investors in the rising oil market. The oil and gas company is thus continuing its advance unabated. The other heavyweight Unilever added 2.3% to the previous slot.

Chip machine manufacturer ASML was 2.9% in recovery

Fugro on a roll

Plenty of medium-sized funds Fugro on the rise with a plus of 3.1% helped by the improved performance of the oil market. Leader OCI gained 6.3%.

Air France KLM fell 1.8%. Goldman Sachs will follow the group again, it uses a sales advice with a price target of € 3.70.

Real estate fund Eurocommercial Properties declined by 2.4%.

Bicycle maker Accell (Batavus, Sparta) gained 3.5% in the small caps. Thanks to the bicycle craze in the third quarter, it managed to generate 38% more turnover compared to last year. The board raised its expectations, expecting a better gross profit this year than last year. ING analyst Tijs Hollestelle, who increased his advice to buy in September, spoke of a strong quarter with good prospects.

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