Shell and Arcelor push AEX to record above 750 points | Financial

The AEX is 0.5% in the plus at 751.52 points around a quarter past nine, the highest level ever and a large tightening of the previous record earlier this month. The Midkap index is up 0.6% to 1063.5 points.

Wall Street largely took a step back last night after the US interest rate decision. The Fed kept interest rates unchanged, but sees the world’s largest economy recover so quickly that the targets of the stimulus policy are getting closer. Central Bank President Jerome Powell said the policy meeting discussed tapering bond purchases, but assured that it will be some time before the Fed raises interest rates.

Major stock markets in Asia saw mostly gains on Thursday. The Nikkei in Tokyo closed 0.7 percent in the plus. The Hang Seng index in Hong Kong posted an interim gain of 3% on the back of a strong recovery from Chinese tech companies.

Shell leader after figures

In the AEX, leader Shell 2.9% more after a very good reception of the results. The oil and gas group has had a strong quarter thanks to high oil prices. In the same period a year earlier, Shell still suffered a significant loss as oil prices were hit hard by the corona pandemic. To reward shareholders, Shell will pay more dividends and the company will buy back $2 billion in its own shares.

ArcelorMittal is also in demand with a plus of 2.7%. The steel producer made a substantial profit in the second quarter thanks to the economic recovery from the corona crisis. CEO Aditya Mittal expects demand to increase further in the second half of the year. To reward shareholders, the group will buy back €2.2 billion in its own shares.

Relx is 1.2% higher. The digital media group has increased its operating profit by 11% in the first half of the year with a 4% turnover growth. Earnings per share rose 10%. This beats the average expectations of analysts.

On the other hand, must KPN Relinquish 2% after the significant progress in the past trading days.

Sitting in the Midkap Fugro on the rise with a plus of 3.7%. The soil researcher managed to make a profit again in the first half of the year after a significant loss in the same period a year earlier.

Arcadis is also in the taste and thickens 2.5%. The consultancy and engineering firm saw its turnover and result rise in the past quarter and maintained its expectations for the coming years.

Intertrust drops more than 3%. At the financial services provider quarter, profit margins were under pressure due to a fine in the Cayman Islands for non-compliance with administrative obligations.

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