Loss for Damrak, profit taking in tech | Financial

The AEX index closed 0.4% lower at 564.11 points. The AMX fell by 0.1% to 774.12 points at the closing bell.

The price boards in London (+ 0.3%), Paris (+ 0.6%) and Frankfurt (-0.2%) showed a divided picture at the end.

Of American stock exchanges closed 0.7% to 1.3% in the red on Tuesday evening. After the closing bell on Wall Street arrived coffee chain Starbucks in credit card company Visa with quarterly figures. The stock exchanges in New York opened this afternoon 0.1% to 0.7% higher. Chipmaker AMD won 12%.

The euro rose 0.3% to € 1.17545. Gold fell 0.2%, Brent oil rose 1.1% to $ 44 a barrel.

Interest rate decision in US

Tonight, eyes are on the interest rate decision. Fed chairman Powell will almost certainly leave interest rates unchanged: 0.00% to 0.25%. The discount rate would remain 0.25%.

That interest rate is reflected on bank shares, Corné van Zeijl (Actiam) argues:

Central banker Powell is also likely to wait and see what kind of support Washington will come up with. The US Congress has been discussing a new support plan for the economy for some time.

“That support package is crucial,” says strategist Corné van Zeijl of Actiam Asset Management. “If there is no deal, it means less income for consumers who already have a lot of debt. They will spend less. And that consumer had already started spending considerably less. Not because of the imposed lockdowns, but they limit their turnover by going to restaurants less, traveling less, spending less. ”

The Conference Board Consumer Confidence Index released a signal Tuesday, which fell from 106.1 in June to 91.5 this month. “That is dramatically bad,” said Van Zeijl. “The fear is really going to have an impact on the US economy.”

Cees Smit of broker Today’s Group sees a turn towards so-called value shares on the stock exchanges. “The market does set long-term peaks. In the figures of ASML, ASMI and Besi you saw that expectations are very high. It is difficult to keep up with that. We see once from investments in growth shares to value shares. Such a recent recovery from Unilever, which suddenly gains 8% and again today, in addition to the figures of Aalberts and AMG – those are interesting. The worst seems to be over there. ”

Banks now also counts Smit there. The results of Barclays, Deutsche Bank and Banco Santander may not be optimal, but they remain absolutely interesting until the second corona wave takes effect. ”

Santander billions

Spain’s Banco Santander, however, wrote off almost € 13 billion because of the corona crisis. Deutsche Bank, in turn, set aside € 761 million in the second quarter to absorb losses on bad loans. That is the largest provision in eleven years, but slightly less than the bank announced in June. British bank Barclays set aside £ 1.6 billion in the second quarter, with analysts accounting for £ 1.4 billion.

In the AEX, the winners were brought in by payment processor Adyen (+ 2.3%). Brouwer Heineken followed with a 1.7% increase, healthcare technology group Philips also rose 1.7%.

The food and detergent group Unilever (+ 1.3%) received buying advice from the bank Société Générale, with a target price of € 61.

ASMI was the largest fall in the main funds with a fall of 7.4%. The chip machine manufacturer from Almere is one of the best-performing stocks in the AEX this year, but the company’s quarterly figures disappointed investors. Also the promise that ASMI in 2020 continues to grow faster than the market, did not impress.

Chipmachinemaker ASML closed 4.4% lower. Investment bank UBS lowered its investment advice to ‘keep’, with a price target of € 340.

Financial institutions like ABN Amro (-2%), ING (-1%) in Aegon The result also declined (-1%).

Price jump Fugro

In de AMX won Altice 3.9% in the lead. Fugro lost strength. It first made a price jump of 6.6% before dropping to 0.3% in the afternoon.

The soil researcher had last quarter suffer from the downturn of the oil and gas market and measures due to the corona virus. This was offset by strong growth in orders for offshore wind farms.

Stainless steel producer Aperam (+2,5%) struggled last quarter with factory shutdowns and weaker demand from the automotive industry due to the virus outbreak. It saw sales and operating profit fall. Aperam had already warned against lower profitability. The EBITDA is above expectations, according to JPMorgan Cazenove. Aperam says demand is picking up, but it’s still there well below the normal level.

At the bottom was Pharming with 2.8% loss behind engineering company Arcadis (-2.8%) and lighting company Signify (-3,7%).

Vopak (-1.2%) said that the oil storage tanks were fuller in the first half of the year due to lower oil prices. Due to the large supply on the oil market, there was much demand for storage capacity while traders also store oil pending higher prices. The company’s storage tanks were 88% full versus 84% ​​in the first half of last year. Vopak has good prospects, says ING analyst Quirijn Mulder, who already had buying advice.

Smallcapfonds AMG (+ 2.5%) saw a sharp decline in turnover and operating profit in the second quarter. According to the metal specialist, sales volumes and prices were under considerable pressure due to the corona crisis. AMG has reached the bottom, according to ING analysts.

Locally noted Fastned (+ 0.4%) said it had raised over € 13 million with the issue of bonds. In addition, investors have extended € 2.7 million in debt from previous issues with the operator of fast charging stations for electric cars.

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