Shell narrowly wins against dark red Damrak | Financial

The AEX index closes 2% lower at 723.11 points. The stock market indicator reached the highest final score ever at a position of 737.64. The AMX is down 1% today to 1039.1 points.

The price boards in London (-2.13%), Paris (-2.4%) and Frankfurt (-2.7%) are also red. In Germany, car brands closed at a loss. The European Commission fined carmakers BMW, Volkswagen, Audi and Porsche a €875 million fine for cartel formation. BMW and Volkswagen fell to 3.2% in Frankfurt. Daimler avoids a fine because the owner of Mercedes-Benz confessed to the cartel in Brussels. The share nevertheless fell more than 2% on the German stock exchange.

Stellantis, the company behind brands such as Peugeot, Opel, Fiat and Chrysler. announced that it is investing €30 billion in the development of electric vehicles. The stock lost 3.4%.

“Many investors have had good months and are now taking some money off the table,” says asset manager Renco van Schie (Valuedge). “They see that the economic conditions are becoming more uncertain. Expectations around the approaching earnings season are also quite high.” He adds that the stock markets had been “a little tired” for a while.

“The crucial meter is again the degree of infections and the number of deaths from the coronavirus and variants,” says chief economist Luc Aben of Van Lanschot Kempen. “The market fears that there will be new restrictions,” he refers to interventions worldwide.

In Tokyo, where a new state of emergency has been declared to reduce the number of corona infections, the Nikkei ended 0.9% lower this morning.

The US stock markets are around 0.8% loss after a disappointing unemployment rate.

It was revealed that 373,000 unemployed Americans turned to the government for financial assistance last week. That was a downer because analysts had counted on 350,000 unemployment claims. A week earlier, the number of aid applications stood at 364,000.

‘Interest step too early’

Investors are also processing the minutes of the latest interest rate meeting of the US Federal Reserve. The notes show that Fed policymakers believe it is still too early to determine whether the labor market and inflation will continue to move in the same direction.

That is why it is too early to decide that the corona support program can be phased out. However, the conditions set by the Fed for phasing out support can be met within a few months.

By the way, the ECB has its target for inflation adjusted to 2% in the medium term. The central bank has so far aimed for a currency depreciation of ‘less than but close to 2%’.

„Maybe this is wishfull thinking. Still, the ECB’s message is important. There is more room to stick to a very accommodative monetary policy for longer. And that is beneficial, especially for equity investors,” said investment manager Simon Wiersma of ING.

The fee for the leading US 10-year Treasury bond will be lowered to 1.305%. Not so long ago, 2% was expected. In Germany the government bond is also falling, but in Spain and Italy the risk compensation is rising.

“Interest has become a puzzle piece. It could have a technical cause, now that the Federal Reserve has recently bought up a lot. With little supply, the prices rise and the interest rate falls,” said chief economist Luc Aben of Van Lanschot Kempen.

Or the investor believes that the Fed will not allow inflation to spiral out of control. Historically, bond markets have always been good at spotting a slowdown in the economy. Stock markets are picking up on that signal.”

Prosus at the bottom in AEX

Prosus falls the most at the bottom of the AEX with 4.1% at the close. The tech investor suffers from the price drop koers of the Chinese subsidiary Tencent. Tencent is under pressure as the Chinese government continues to tighten the strings for large tech companies.

From chipfondsen ASMI (-3,8%) Iron (-3.2%) in ASML (-2.8%) are also having a hard time.

NN (-1.2%) buys a 70% interest in insurance broker Heinenoord. The insurer will pay €176 million for the interest. Under the agreement, NN will also have the option to buy the remaining 30% stake within four years.

Shell is the only one left with 0.2% price gain. Signs of market tightness are helping: US crude oil inventories have fallen for the seventh week in a row, according to data from the US energy agency EIA.

In the AMX keeps Flow Traders with this volatility the feet are dry. The trading house is worth 1.6% more. Air France KLM was bought back to 0.3% exchange rate gain.

engineering office Arcadis (-3.9%) is the largest decliner among medium-sized funds. TKH Group declines 2.9%.

Smallcapfonds Heijmans (-0.2%) at €12.88 announces that it will build 116 homes in the municipality of Hellevoetsluis, which will bring the company a revenue of €40 million. In a second phase, the contractor will be eligible for the construction of approximately 144 more homes in the new district.

The locally listed Neways (+2.1%) announces that the shareholders ZBG, Menor and OtterBrabant have offered their total interest of 41% in the Brabant manufacturer of electronic components under the offer of investor Infestos. Industrial group VDL dropped out this week in the takeover battle for Neways.

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