Philips shines on sunny AEX | Financial

At around 12.05 the AEX index recorded 0.6% higher at 509.1 points. The AMX index rose 0.3% to 683.1 points. The stock markets in London (+ 0.1%), Paris (-0.1%) and Frankfurt (+ 0.3%) remained close to Friday’s closing positions.

“Philips’ results are boosting the AEX,” said investment strategist Simon Wiersma (ING). According to him, volatility on the stock market may increase again in the coming days. “We have seen significant price gains in the past two to three weeks in anticipation of a reduction in lockdown rules. With the quarterly earnings season, investors are now returning to focus on corporate earnings and prospects. ” Companies such as Philips that deliver better results are rewarded for this. But companies with disappointing quarterly figures will be punished by investors, Wiersma warns.

The US stock markets are expected to open 0.5% to 0.9% lower this afternoon. The price of a barrel of American oil fell to its lowest point in 21 years. A stroke of luck for investors was that the number of corona infections in Europe seemed to be leveling off.

In the AEX Philips the star with a price jump of 6.9%. CEO Frans van Houten reported that the corona crisis in Asia had a significant impact on the results in the first quarter. 76% of the profit of the healthcare technology group disappeared. Corona’s impact was 5% on turnover, says Van Houten. He expects more sales growth in the third and fourth quarters. Philips proposes € 0.85 dividend payment in shares.

Unilever traded 3.3% higher. The food giant will publish quarterly results on Thursday. Chip machine manufacturer ASMI plus 3.1%.

Chemical distributor IMCD (+ 2%) reported that the corona crisis had not yet affected the first quarter. His EBITDA increased by 11% annually. Sales also increased in Asia, earnings per share rose by 11%.

Real estate fund Unibail (-4.1%) was the biggest loser among the main funds. ABN Amro went down 1.9%. The bank share responded to two messages. ABN Amro has filed a claim with Singaporean oil company Hin Leong Trading, according to Bloomberg news agency. The bank is said to have provided € 275 million in credit to the troubled company. In addition, the FD received news that the ABN Amro board had been warned several times internally about inadequate anti-money laundering controls.

Was in the AMX PostNL (+ 4.4%) the leader. The postal and parcel deliverer received a buying advice from ABN Amro with a price target of € 1.50, coming from € 1.20. Soil researcher Fugro climbed 4.2%.

Air France KLM rose 1%. The supervisory board of the aviation group decided to reverse the bonus increase for CEO Pieter Elbers after reporting in De Telegraaf.

Metals supplier attracted the small cap funds AMG are forecast for 2020 as a result of the corona crisis. However, this comes as no surprise to ING analyst Stijn Demeester. AMG supplies the airline industry and automotive suppliers who are both severely affected. The AMG share picked up 5.2%.

The locally noted biotechnologist Curetis (-21.6%) has its last trading day on the stock exchange on May 4. It goes together with its American industry colleague OpGen.

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