AEX is baked with chips; ING gets hit | Financial

Around eleven o’clock the AEX recorded 1.1% in the plus at 571.5 points, close to the highest level of mid-September. The Midcap index rose 0.9% to 825.3 points.

Elsewhere in Europe, the stock markets also looked up sharply. The stock exchanges in Frankfurt and Paris thickened to 0.9%.

The mood on Wall Street last night was very good despite the persistent uncertainty about the election results in the US. Tech funds, in particular, were able to count on strong buyer interest because of the expectation that potentially stricter rules for the sector seem to be forthcoming, given the majority of Republicans in the Senate. Futures in the US pointed to a further advance in prices this afternoon.

US President Donald Trump and his Democratic rival Joe Biden are in a neck-and-neck race in several states where votes are still counted. It may therefore take a while before the winner of the presidential election is known. Biden is currently ahead of Trump, but Trump’s team is demanding a recount of votes in a number of states.

Investors also looked forward to the US Federal Reserve’s interest rate decision coming out tonight. No major changes in the monetary policy of the US central bank are expected.

Tech funds are leading the way

Slipped into the AEX ING further away with a bloodletting of 6.7%. The banking group announced approx 1000 jobs te deleted from investment banks and retail units abroad. The corona crisis is still weighing heavily on the bank’s results. In the third quarter, ING’s profit was again much lower than a year ago. Industry colleague ABN Amro also came under pressure and had to give up 2.7%.

From chipfondsen ASML in ASMI pulled the cart firmly with pluses of 3.9% and 6% respectively.

Just Eat Takeaway was also appreciated with a gain of 3.5%. For tech investor Prosus investors had 3.3% more left.

ArcelorMittal headed fractionally lower. It steel concern managed to find its way back up last quarter, after a very challenging second quarter. The steel group benefited from the improved market conditions, including in the automotive industry. Nevertheless, the quarter ended with a loss. Due to the corona crisis, the company is not making concrete predictions for the rest of the year.

Unibail-Rodamco-Westfield had a bad day with a decline of 2.1%. The real estate fund remains a plaything for speculators because of the dissatisfaction among a number of major shareholders with the planned issue.

RD Shell faced a loss of 1.2%. This put a halt to the strong recovery since last Thursday.

Leading role BAM

Midkapper BAM could credit 2.7%. The contractor knew his performance to improve ‘significantly’ in the third quarter compared to the first half. The builder also achieved a positive operational result. The supplier for the chip industry Iron took the lead and was worth 5% more.

Smallcap Alfen shot up 6.8%. The charging station manufacturer was commissioned in Middelburg.

Construction company Heijmans (+ 2.3%) also got involved after an upward revision of the annual forecast.

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