Profit AEX melts with cooling tech; good business Ahold and ABN | Financial

The AEX index is even fractionally higher around a quarter to ten at a position of 775.1 points after having touched a new top of 777.59 points at the start. The Midkap index is up 0.2% to 1078.2 points.

New highs were set on Wall Street last night by the Dow Jones index and the S&P Wall Street. This afternoon, all eyes are on US inflation figures. A continued strong rise in the price level could prompt the US central bank to taper support policy more quickly than expected. A plus of 5.3% is expected for July, a slight decrease compared to a month earlier.

Jos Versteeg, analyst at InsingerGilissen, emphasizes that inflation figures in America are important for sentiment. He points out that inflation has risen sharply in recent months, but that the effect is expected to be ‘temporary’. “For example, there will be a brake on wage growth because with the end of the corona support from the government, more people will return to the labor market. Given the persistently low interest rates in the US, bond investors are also little concerned about inflation.”

He also takes into account that the Federal Reserve (Fed) will not rush to cut the stimulus for the time being, even if inflation figures rise faster than expected. “The Fed is careful not to step on the brakes too early as in the past and first wants to wait and see what the upcoming macro data will look like.”

Versteeg is not afraid of heights after the strong advance in the tech funds this year. “The prospects in the tech sector still look very good with, among other things, the further rollout of 5G. Low interest rates also support the valuations of tech funds. If the importance of tech in the portfolio becomes too great, you can choose to remove some risk.”

Expanding in the AEX Ahold Delhaize the opening profit expands further and thickens 1.9%. The supermarket group recorded more turnover in the second quarter, but saw its net profit fall. Online, the parent company of Albert Heijn and bol.com, among others, continued to experience significant growth. The Belgian-Dutch supermarket group also raised expectations for the full year again. According to Versteeg, the state of affairs in the US, where Ahold is very active, was particularly good. In his view, a possible IPO of bol.com has little priority.

Insurer Aegon is also at the forefront helped by consolidation in the sector, gaining 0.6%. ING is also 0.6% higher. Analysts from AlphaValue/Baader took the banking group off the sales list.

On the other hand late Unibail-Rodamco_Westfield see a loss of 0.4%. Chip funds are also taking a step back. ASMI must give 0.6%. Tech investor Prosus drops 0.9%.

mid-hairdresser ABN Amro is in demand with a price jump of 3.3% after well-received results. The banking group showed a higher profit than expected last quarter. In the previous quarter, red figures were still written. After the money laundering problems, the Public Prosecution Service has again aimed its arrows at the bank. This time, the judiciary is investigating ABN’s role in a dividend stripping case. Despite the profit growth, Versteeg is cautious about the banking sector, partly because of the persistently low margins, such as in the sale of mortgages.

JDE Peet’s loses 0.6%. Berenberg lowered the advice for the owner of Douwe Egberts.

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