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AEX limits damage during lesser stock market week | Financial

The AEX ended 0.2% lower at 551.37 points after falling close to 545 points earlier. On balance, the main indicator was 1.6% on a weekly basis. The AMX fell 0.3% to 799.3 points

Other European stock market indicators also turned light red. The German DAX and the French CAC 40 had to give up up to 0.4%

US activity rose faster than expected this month. Confidence among purchasing managers increased strongly in both the service sector and industry. Joost Van Leenders, strategist at Kempen, indicates that, unlike in Europe, the picture for American companies has cleared up considerably. “The number of infections in the US has also decreased in recent weeks, while in central Europe there has been an increase.” This morning, the purchasing managers’ indices showed that the recovery of European industry is faltering. Mainly due to the unexpected dip in France, industrial activity remained at the same level as a month ago.

According to Van Leenders, investors are looking for a new story now that the earnings season for companies is over and central bankers have already given their massive corona support. “There is talk of a consolidation phase on the Damrak after the strong upswing in prices in recent months. The bickering in American politics about a new aid package does not help. It is not surprising, however, that American stock markets are doing better because investors in the corona era mainly look at growth stocks, while there are more defensive funds in the AEX. ”

Hope and fear

Stan Westerterp, asset manager at Bond Capital Partner, emphasizes that investors still float between hope and fear. He points out that on the one hand the economic impact of the corona crisis lingers above the market, but on the other hand, the confidence in the arrival of a corona vaccine provides support. “It is expected that at the end of the year when there is more clarity about a possible vaccine and about the outcome of the US presidential elections, the way will be cleared for the AEX to return to the 600 points, especially if the big names, such as ING and Shell, who are lagging well behind this year, will participate again. In the coming months, however, I am anticipating a net sideways movement in prices. ”

Came to the Dutch main funds Adyen under pressure with a 3.7% dip following news that payment processor executives are selling about 15% of their shares. On Thursday, the payment processing company already slumped after slightly disappointing quarterly figures. Investment bank Degroof Petercam raised the price target to € 1025, but that is still well below the current level. The sales advice was thus maintained.

It plagued this week Galapagos also fell sharply with a dip of 3.8%. With that, the slight recovery on Thursday in response to the price drop of the day before was amply lost. It then became known that the biotechnology company will not yet be allowed to introduce its rheumatism on the American market. In response, UBS has cut its price target for Galapagos. “It is a major setback that the star drug has to wait for the green light in the main market,” says Westerterp.

The weighty fund I.NG also belonged to the larger fallers. The bank’s share was worth 1.7% less. Philips faced a loss of 2.1%.

Prosus Progress of 4.7% was helped by the good price recovery of the Chinese tech giant Tencent, in which the tech investor has a major interest.

Real estate fund Unibail-Rodamco-Westfield thickness 2.3%. This continued the recovery movement of the day before. DSM could also count on buyers’ interest with a plus of 1.6%.

Relx won 0.6%, on the intention a British data-analysebedrijf to take over.

The leader sprinted among the medium-sized funds Basic-Fit 3.3% forward. Bottom of the league Fugro lost 2.5%.

The builder included in the AScX index Heijmans suffered a loss of 0.8% despite the half-year figures according to ING and Degroof Petercam, among others. The investment bank saw reason to increase the price target, but remains with its holding advice.

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