Coronastress takes AEX down to well below 500 points Financial

After an accelerated dive at the lock, the AEX index fell 3.3% to 491.13 points. The AMX even heated up 4.6% to 654.62 points.

Elsewhere in Europe, sales pressure was also increasing. The DAX in Germany lost 4%. The CAC 40 in Paris fell 3%. France reported sharply lower store sales. And according to the Wall Street Journal, Renault is going to end its joint venture in China.

After the sharp upturn in stock markets in recent weeks, uncertainty about the impact of the corona virus came back firmly to the fore. Stan Westerterp, asset manager at Bond Capital Partners, points out that the sharp decline in profitability at US banks and the lousy state of retail sales in the US have once again pushed investors into the corona crisis. “There is still a stream of bad macro news ahead of the equity markets, including an expected further explosion in unemployment benefit applications in America because workers can be thrown out there very quickly because of the flexible labor market.”

In the long term, Westerterp sees a lot less gloom for the stock market climate. “Interest rates are still low and stock valuations have not fallen so much in ages. In addition, the enormous package of incentives will also benefit companies. It is also important that governments do not act as a flashing light lockdowns go on and off, but prefer to continue the restrictive measures longer and then release them gradually. ”

The further weakening of the oil price, which fell back to below $ 20 a barrel in America, also affected sentiment on the Damrak. Westerterp takes into account that the demand for oil will increase again with an economic stabilization. In addition, he emphasizes that oil parties have every interest in bringing oil prices back up to $ 50 in the near future with new production interventions.

Arcelor bitten dog

In the almost entirely red-colored AEX, the Unibail-Rodamco-Westfield real estate fund was in the rear with a blood loss of 8.9%. Steelmaker ArcelorMittal dived 8.6%.

Financial values ​​again suffered significant damage. ING was thrown back 8.5%, while ABN Amro fell 8.3%. Aegon was hit 8%.

Shell also came under severe pressure with a loss of 7.4% in response to the continued downturn in the oil price. The oil company reported having its oil platform Perdido in the Gulf of Mexico ready for the restart.

ASML had to give up further ground and faced a loss of 3.2%. The chip machine maker reported lower sales, in line with the sales warning on March 30. It has not yet received cancellations from orders. It did, however, delete the outlook for this year. ASML will pay a dividend of € 1.35. Degroof Petercam took ASML off the buying list, the target price remained unchanged at € 280.

Telecom group KPN on the other hand accounted for a profit of 0.3%. Data provider Wolters Kluwer rose 0.6%. In front of Heineken investors had 1.1% more left.

The medium-sized funds were also bleak. Especially soil researcher Fugro under pressure from the slump in the oil market, it had to suffer with a price drop of 13%. Fitness chain Basic-Fit it also suffered heavily and lost 10.6%. OCI saw Evaporate 7.6% of its market value.

Fagron decreased by 0.6% after a late relapse. Kepler Cheuvreux lowered the price target from € 23.00 to € 21.75, with an unchanged advice. Fagron received a price target increase, from € 22 to € 24 from Berenberg. Flow Traders were among the few winners. The stock market intermediary that has to suffer from turbulence in the stock markets won 0.5%.

The navigation supplier responded to the small cap funds TomTom (-4.9%) printed on its quarterly results, where sales decreased by a quarter. It made a deal with Verizon. Schutte emphasizes that TomTom is suffering a lot from, among other things, the lockdown in France, as a result of which the car industry has come to a complete standstill there, and the consumer branch is also in difficult weather. “TomTon can be interesting if you want to respond speculatively to a recovery in the car industry,” says investment advisor Rein Schutte.

Device manufacturer Nedap rose strongly against the current with a price jump of 12.9%.

Tech company CM.com (+ 4.8%) Tuesday reported after-market ticket sales lagging behind. It did see a strong year start, with an increase in the use of the CM.com chat platform, which allows companies to keep in touch with their customers. The company does notice that ticket sales are lagging behind.

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