Late sell-off puts AEX at a loss | Financial

The AEX index rose above 550 points, but closed 0.2% lower at 547.70 points. The AMX did win: 0.5% at 805.78 points.

The price signs in London (-0.3%), Paris (+ 0.1%) and Frankfurt (-0.2%) were particularly gloomy.

Chinese industrial and service activity figures in September provided support. Figures from market researchers Caixin and Markit also showed that the Chinese industry has continued to grow this month.

The Dow Jones index rose 0.8% after opening, the S & P500 by 0.5% and tech exchange Nasdaq made a 0.3% gain.

The ADP jobs figure turned out better than expected. In addition, the long-awaited aid package in Washington emerged.

Treasury Secretary Mnuchin said he could reach an agreement with Democrats on a large bailout package, in addition to all the support from the Federal Reserve.

‘Biden light for’

The first election debate between US President Donald Trump and his Democratic challenger Joe Biden was unprecedented and chaotic. Trump ran into hard not only with Biden, but also with debate leader Chris Wallace because of his many interruptions.

Biden emerged slightly better from the fierce battle, notes economist Corné van Zeijl (Actiam), looking at sites that kept guesses on the results. “Contrary to expectations, Biden was not wiped out as a weak candidate. Trump could make his point less often. Of course it is only the beginning, ”he says.

“The debate has not led to major movements in the financial markets,” trader Frank Bonsee of ABN Amro oversees the trading screens.

Volumes remained low. “Investors are looking for new impulses. The optimism in recent days is maintained after last week’s decline, despite new measures to curb corona, ”says Bonsee of ABN Amro.

“We are in the third quarter with many companies that performed well in line with what analysts expected, and sometimes did better. It is all a bit more positive towards the presentation of quarterly results, ”said the trader.

The oil price remained an important indicator. After a 5% drop yesterday, Brent only slumped to gain 0.6% in the afternoon at $ 41.80 a barrel.

The euro was still down 0.1% at $ 1,172.

In the AEX became real estate fund Unibail-Rodamco-Westfield thanks to a 5.5% exchange rate win day winner.

DSM closed 3.8% lower. The specialty chemicals company announced a large part of the materials branch to be sold to Covestro for € 1.6 billion.

Financials like Aegon (+ 2.5%) in ABN Amro (+ 2.5%) reported at the top again.

Tech investor Prosus (+ 1.8%) also supported the AEX.

Payment service provider Adyen (-1.9%) was the biggest loser among the main funds. It received an advisory cut from buy to neutral from Bank of America. Previously, Goldman Sachs came up with a price target increase from $ 1,700 to $ 1,825, with an unchanged buy recommendation. The investment bank promises Adyens “superior technology platform.”

Royal Dutch Shell had to be 1.3% at the bottom of the AEX write off. The British-Dutch oil and gas group announced this morning between the 7000 and 9000 jobs to be deleted. Asset manager InsingerGilissen reported having removed all Shell shares from its portfolio. For years, these were a permanent part of the investments.

InsingerGilissen analyst Jos Versteeg describes how unenthusiastic Shell is for greener investments such as alternatives for the growing plastics market.

Technology funds ASML in ASMI lost over 1%, like Ahold Delhaize.

Real estate funds Eurocommercial Properties, (+7%), New Stone (4.5%) in the Midcap and Small Cap Fund Wereldhave (+ 5.5%) driven higher by the desire to buy in this sector.

In the AMX index saw BAM the profit fell from 5.5% to 3%. The construction group is almost certainly going cut more than a thousand jobs. BAM expects that the reorganization program will result in cost savings of € 100 million per year.

Air France KLM increased by 2.3%. There would be new financial support.

Corbion (+ 1.3%) reported having issued $ 170 million worth of debt to five institutional investors.

Chip supplier Iron left 2.4% at the bottom of the index.

Smallcapfonds Ajax (+ 1.2%) came on Tuesday after the closing bell with results. The listed football club booked last season € 20.7 million profit. That was a lot less than a year earlier, when the club achieved almost € 52 million profit, partly thanks to the good results in the Champions League.

It’s noted locally Kiadis Pharma (-4.8%) opened the books. The biotechnology company suffered a smaller loss in the first half of the year than a year ago, helped by lower operational costs. Kiadis’ cash position stood at € 19.8 million at the end of June.

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