Sprintje AEX, AkzoNobel surprises positively | Financial

At around 11 a.m., the AEX index moved 1.6% higher at 503.9 points. The AMX index recorded 0.8% gains at 667.3 points. The price boards in London (+ 1.4%), Paris (+ 1%) and Frankfurt (+ 1.3%) also turned green.

According to wealth strategist Joop van de Groep (Fintessa), volatile stock markets remain due to the corona crisis. “One day there is quite a blow down. And the other day there is a strong recovery. The latter is the case today. ”

The Group also finds it striking that one sector is hit much harder by the corona crisis than the other sector. “Manufacturers of medical devices such as Philips and pharmaceuticals are struggling in the first half, but expect recovery in the second half. On the other hand, temporary workers and oil companies are very affected. ”

In the Netherlands, consumer confidence fell to the lowest level ever. “A huge blow,” said CBS director Pieter Hein Mulligen about the impact on the economy.

In Asia, the Japanese Nikkei decreased by 0.7%. An investor took a big interest in game producer Nintendo (Zelda, Mario).

The Dow Jones index closed 2.7% lower on Tuesday evening. The Nasdaq lost 3.5%. The first futures for the US stock markets to open at 3:30 PM are up 0.8% to 1% higher.

Brent oil decreased by 13.5%. “Traders who thought the worst oil sales were over after the May contract came to an end,” said broker IG.

The euro was slightly higher at $ 1.0866. The fee for the German ten-year loan increased to -0.457%. The gold price rose by 0.6%. Bitcoin became 0.8% more expensive at $ 6959.

Substantial outliers

Paint and chemicals supplier AkzoNobel (+ 8.4%) led the index after an increase in operating profit for the past quarter, with declining sales. ING analyst Stijn Demeester, who maintains a buying advice at € 190 as a price target, calls the results, driven by cost savings and low raw material costs, “strong.” AkzoNobel maintains its dividend.

Chip supplier ASMI (+ 4.7%) saw limited consequences in both turnover and new orders. These were better than expected for KBC and ING analysts in turnover, orders and profit. ASML’s dividend and share buyback program remain intact. The group also expects few problems in the second quarter, but more uncertainties due to the corona pandemic. ASM Pacific (+ 3%), in which ASMI owns a quarter of its shares, faced a decline in orders.

Sector member ASML rose 3%.

Many banks and insurers rose: ING won 1.4%, NN Group 0.9% ASR won 0.4%. ABN Amro decreased by 0.6%.

Broadcaster Randstad (+ 1%) reported better-than-expected first quarter sales. The EBITDA also remained above consensus. However, since mid-March, the demand for temporary agency workers has fallen by 30% due to lockdown measures. CEO Jacques van den Broek expects even more difficult conditions in the current second quarter.

Beer brewer Heineken (-1.5%) reported not paying an interim dividend, it is scrapping bonuses for top executives after a 69% decline in earnings. The operating result is a setback, said ING analyst Reginald Watson. Heineken lost beer volume in the first quarter and the top foresees a further decline in the current quarter. Heineken also expects to feel the consequences of the corona crisis in the second half of the year. Watson expects analyst expectations to fall widely.

Payment processor Adyen went down 1.6% after Tuesday’s 9% gain,

Energy company Shell (+ 0.8%) tentatively delayed the development of a $ 1 billion worth of gas field in the North Sea, according to American media.

Real estate company WDP (+ 4%) took the lead in the Midkap. It reported a 14% higher quarterly profit. The target gross dividend of € 0.80 per share remains unchanged, 8% more than last year. Besi rose 3.5%, Vopak (+ 2%) benefited from the oil flow.

Fitness chain Basic-Fit moved 3% higher. The interim report limited his expectations for quarterly sales growth of 15% to € 137.5 million. As of mid-March, all of the company’s health clubs have been closed, cutting costs from its 828 affiliates. ING analyst Marc Zwartsenburg calls it “positive” that Basic-Fit has strengthened credit lines with the banks; there were concerns about that. KBC Securities does not expect a further capital increase for the gym operator.

Biopharmaceutical Pharming rose 27% on Tuesday, but lost 3% value today.

ICT Group (-4%) disappointed local funds. The secondment worker canceled his dividend program for 2019.

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