At around 2:15 PM, the AEX index was 1.7% higher at 582.3 points. The AMX rose 1.3% to 777.4 points. The AScX small exchange increased by 2.1%.
The price boards in London (+ 1.8%), Paris (+ 2.2%) and Frankfurt (+ 1.8%) also turned green. The Spanish stock market clearly lagged.
Investors were positive thanks to hopeful developments regarding a corona vaccine from the American biotech company Moderna. According to scientists, the corona vaccine provided antibodies in all 45 subjects in the first test phase. An AstraZeneca medicine is also taking steps.
“The chance of a vaccine or drug against the coronavirus brings faith to the market; which gives a wider profit than just in medicine makers, ”says investment advisor Rein Schutte of Noesis Capital. “But there is little concrete yet. Hope translates to buying stocks that were left behind, such as ArcelorMittal, while tech companies that did very well are being wound down. ”
On Wall Street, the Dow Jones index ended 2.1% in green on Tuesday night, with Japan’s Nikkei tailwind boosting to 1.6%. The mood among investors was positive thanks to a statement by the American central banker Brainard that extra billion injections may be necessary.
Futures for opening at 3.30 pm stand at 1.1%. Apple is in the market for profit: it won a lawsuit against the European Commission and does not have to pay $ 13 billion in taxes. ING investment manager Simon Wiersma sees a stronger than expected increase in the confidence of the American small and medium-sized enterprises in the NFIB index.
The agenda includes quarterly results from Bank of New York Mellon, United Health Group, US Bancorp and Goldman Sachs. Other targets include the New York City purchasing managers index, industrial production figures and the Federal Reserve’s Beige Book.
The euro was worth 0.3% more. Brent oil rose 1.4% in price: $ 43.50 a barrel. The American Petroleum Institute reported a decline in the oil supply. Bloomberg reports that oil cartel OPEC and allies are still following the existing production restriction today.
Galapagos leader in AEX
In the AEX reinforced Galapagos are in the lead with a profit of 5.8%. The biotech group thus recovered from the price bump of 4.4% on Tuesday. According to analyst Jos Versteeg (InsingerGilissen), investors in Galapagos can take a beating, given the volatile price movements of the stock.
Chemicaliëndistributeur IMCD was worth 3.5% more.
Betalingsdienstverlener Adyen rose 4%. Steel manufacturer ArcelorMittal (+3,4%) benefited from buying advice from investment bank Goldman Sachs, including a price target of € 14.
After morning loss, many financials recovered. Insurer NN (+ 0.1%) recovered, too Aegon (+ 0.5%), the most traded share ING (+ 2.2%) in ABN Amro (+ 0.5%) were picked up in the afternoon.
ASML lost 0.8%. The chip machine manufacturer from Veldhoven managed to increase profits in the second quarter amid the corona crisis. ASML is also optimistic for the rest of the year. But last quarter sales were slightly below analyst expectations. The ASML order book also became less fat. Former sister company ASMI just won 1%. ASML lost due to a explainable drop in turnover, which will be caught up in the third quarter, according to investment bank KBC.
In the AMX index were aviation concern Air France KLM (+ 4.5%) and lighting producer Signify (+ 2.2%) the biggest risers. Real estate fund WDP (-1.4%), on the other hand, was the largest underperformer for medium-sized funds.
TomTom: improvement visible after trough
With the small cap funds TomTom 9.4% forward. ING called its quarterly results ‘reassuring’. The navigation service provider has been hit hard by the corona crisis, but according to CEO Harold Goddijn there is now an improvement visible. TomTom saw sales decrease by 41% in the past quarter and suffered a loss of € 62 million. According to Goddijn, operating revenues are recovering from the April low, but he did not dare to forecast for the year.
Automator ICT Group (+ 1.1%) has acquired Esprit Management & IT Services. That company is active in the development of technical software and recruitment services in the field of technical automation. Founded in 1999, Esprit employs more than 20 people and generates annual sales of approximately € 2 million.
Biotech company Vivoryon (+ 2.5%) enrolled the first patient in a phase 2b Alzheimer’s study. The study will evaluate the safety and effectiveness of Vivoryon’s lead candidate drug, varoglutamstat (PQ912), in approximately 250 Alzheimer’s patients in the Netherlands, Germany and Denmark.
Annual loss for Oranjewoud
Locally noted Oranjewoud last year for the first time in years. The parent company of construction company Strukton and engineering firm Antea Group had to bleed mainly due to a number of maintenance contracts with ProRail. Problems with a major Danish contract for a rail traffic management system also put pressure on the result.
Under the line, Oranjewoud had a minus of € 3.9 million for 2019. This was the first loss in five years for the company. Turnover amounted to € 2.4 billion. In the first five months of this year, according to CEO Gerard Sanderink, there was a fractional decline in income and a positive result. Oranjewoud had not yet traded this morning.
Tie Kinetix (+ 5.8%) does not seem to be affected by the corona crisis for the time being. The software company reported in an interim trading update that demand for services and order intake are developing as expected. Tie Kinetix closed last quarter with sales of € 4.6 million. In the first half of 2020, this amounted to € 8.7 million. The operating result in the past quarter was € 895,000 and € 1.2 million for the first half of this year.
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