Technology shares help AEX to profit | Financial

The AEX was 0.3% higher at 740.8 points just after half past one, after having already closed on a record position on Monday. The AMX lagged and dropped 0.4% at 1055.1 points.

The other European stock market indicators performed less well than the AEX. Britain’s FTSE 100 was up 0.2%, while Germany’s DAX and French CAC 40 were down 0.1% and 0.2% respectively.

Index futures pointed to a flat to slightly lower open in US stock markets, after the 0.2% to 0.4% gain on Monday.

ING investment strategist Simon Wiersma attributes the continued rise of the stock markets mainly to the sharply diminished investor concerns about inflation and economic growth. “The encouraging trade figures that came out from China this morning help with the latter. Thanks to the strong economic recovery, there is also hope that the quarterly figures of companies will be better than expected.”

Partly because the comparison with a very weak second quarter of 2020, analysts are counting on strong profit growth. “The consensus for the US S&P 500 is 64% and for the Stoxx Europe 600 even 109%, because Europe went into a lockdown earlier last year. Historically, 70% of US companies are doing even better than expected and I don’t think it will be much different now. But it is a special situation and analysts foresee a clear weakening in earnings growth in the coming quarters due to the more difficult basis for comparison,” said Wiersma.

Tech investor . went to the Dutch main funds Prosus led by 1.7% gains, helped by positive gains from Chinese tech companies this morning, including its main holding Tencent.

The suppliers to the chip sector were also in demand. ASMI, ASML on Iron climbed 1.4%, 1% and 0.8%, respectively.

Shell rose 0.6%, after being put on the buy list by British bank Barclays.

ING fell 0.4%. The bank sells its consumer activities in Austria.

Meal Delivery Just Eat Takeaway lost 0.3%. Deutsche Bank has lowered its price target to $100 ahead of its quarterly earnings release Wednesday morning, but has maintained its buy recommendation.

In the medium-sized funds, trading house Flow Traders led by a 1.2% gain.

Tank storage company Vopak rose 0.2% on the announcement of a partnership in India.

The new corona restrictions that many European countries are implementing Air France KLM 3.9% lower.

Biotechnology Company Galapagos fell 1.6% in the past few days after the recovery movement.

ABN Amro yielded 0.6%. The bank is selling an approximately $700 million loan portfolio in the US.

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