Adyen leads recovery at Beursplein 5 | Financial

After a 3% loss last week, the AEX index recorded 0.4% higher at 542.1 points around 11 am. The AMX then headed a 0.6% gain at 797.4 points. Volumes are low, US stock exchanges are closed today due to Labor Day.

The British FTSE 100 was up 0.5%, the French CAC 40 gained 1.1%. The German DAX rose 1.2%.

Analysts point to the increase to the German industrial production figure, which in July amounted to 1.2% growth. The positive outlook in particular apparently gave investors hope.

They also looked ahead to Thursday’s ECB interest rate meeting. On Tuesday, the growth figures for the eurozone will be announced for the second quarter. The consensus in a decrease of 12.1%.

The British pound contracted by 0.6%. According to the Financial Times, the British would throw negotiations with the European Union on a post-Brexit trade deal out the window.

‘Not much potential’

Broker IG warns customers, it puts on the brakes. “I don’t expect much potential in the equity markets in the short term. European corporate earnings fell by more than 50% in the second quarter, ”said Salah-Eddine Bouhmidi, IG’s head of markets.

Stock markets in Asia were mainly at a loss. China’s exports rose faster than expected in August. The Nikkei in Tokyo closed 0.5% lower. The Hang Seng index fell 0.5%, Shanghai fell 1.9%.

SoftBank’s share ended 7.1% in the minus. The tech investor as ‘Nasdaq Whale’ invested a record amount of call options on US technology companies, speculating on further price gains. This unprecedented shopping spree could partly explain the recent enormous price increases.

The euro traded a fraction lower at $ 1,183. Brent oil fell 0.8% to $ 42.10 a barrel. Oil cartel OPEC cut prices for its October contracts.

Galapagos back again

At the main funds went payment processor Adyen with a 3% increase in the lead. Chip supplier ASMI became 2.4% more expensive.

Galapagos 2.3% was in recovery, after losing a third in a few weeks because his rheumatism drug is not allowed to be launched in the US for the time being.

Financials lost ground. ABN Amro went from profit to 1.2% loss. According to calculations by the Central Planning Bureau, the Dutch banks have sufficient buffers to deal with problems with bankruptcies due to the corona crisis. ING fell behind by 0.5%, Aegon lost 1%. Insurer ASR on the other hand, rose 1.4%.

Chipmachinemaker ASML (-0.6%) responded to the report from the Wall Street Journal that the United States wants to impose export measures on Semiconductor Manufacturing International Corp (SMIC), a customer of the Veldhoven group. According to Citi, expansion for SMIC is thus blocked. China’s largest semiconductor fell 20% on the Hong Kong stock exchange.

ASML is still waiting for an export license for a new EUV machine. But that effect is limited for ASML, according to ING. A recent meeting with CFO Dassen reassured analyst Marc Hesselink about the outlook for the rest of the year.

The medium-sized funds involved specialty chemicals Corbion with a plus of 2% in the lead. Industrial supplier Aalberts and biopharmaceutical Pharming followed with a 2% price gain.

Fertilizer producer OCI was at the bottom with a minus of 2%.

Charging station manufacturer Elves led the small caps on a 6% gain. Retail real estate fund Wereldhave (+ 2.6%) responded positively to the increase in its debt facilities to over € 130 million. All debt obligations are covered until the third quarter of 2022.

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