Insurers at the top slightly higher AEX | Financial

The AEX was 0.1% higher at 734.4 points at half past three. The AMX rose 0.3% to 1054.8 points.

Most other European stock market indicators are also cautiously continuing their advances in recent months. The UK’s FTSE 100, German DAX and French CAC 40 were up 0.5%, 0.1% and 0.3% respectively. U.S. stock markets will remain closed today for Independence Day celebrations.

In the mood Asia was a little stressed this morning. The Japanese services sector contracted for the 17th month in a row in June. In China, service sector growth slowed to its lowest level in 14 months last month.

By contrast, the figures for the services sector in the eurozone were not too bad. June saw the strongest growth since July 2007. Investment strategist Wim Zwanenburg of Stroeve & Lemberger sees this figure strengthened in his view that companies will publish strong quarterly figures from next week. “We are having a very good grades season. I also expect companies to speak out positively for the second half of the year.”

Although the stock markets are moving around record levels, according to Zwanenburg, valuations are not too high. “The price increases are offset by increased earnings expectations. There are also few alternatives to equities, given the still very low interest rates. Bond yields have also fallen over the past few months, from 1.75% in the US to over 1.4% for 10-year Treasuries.”

Insurers were listed among the Dutch main funds ASR on Aegon with gains of 2.1% at the top. NN won 1.5%. The insurer buys the Greek and Polish activities of the American MetLife for €584 million.

Shell rose 0.8%. The countries of the oil cartel OPEC and allies (OPEC+) are still trying to reach an agreement on production. For the time being, the United Arab Emirates are obstructive. Negotiations are expected to resume today.

Tech investor Prosus fell 6.1% in response to the expansion of Chinese authorities’ investigation into the cybersecurity of online platforms. Chinese app stores should remove Didi taxi app, and Full Truck Alliance truck services app is also under fire. Prosus shareholding Tencent has interests in Didi and Full Truck Alliance. For the long term, Zwanenburg remains positive about large Chinese internet companies. “Basically, things are going well, with continued strong growth in, among other things, visitors and the number of customers. However, we have recently shifted somewhat to small and mid-caps, which are less affected by government interference.”

Meal Delivery Just Eat Takeaway followed with a decline of 1.3%.

Among the medium-sized funds, Air France KLM and steel producer aperam with pluses of 2% at the top. Aalberts rose 0.2%. The industrial supplier sells two subsidiaries with an annual turnover of almost €140 million. ING is counting on a good selling price on the assumption that these are profitable companies and sticks to its buy recommendation.

biotech company Galapagos ston with a minus of 1.3% at the bottom.

Sif excelled at the small caps. Kepler Cheuvreux has put the foundation specialist on the buy list.

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