AEX profit melts away; chip funds in demand | Financial

The AEX index was 0.1 lower at 599.7 points around a quarter past twelve. The AMX went up 0.1% at 859.57 points.

According to data from analyst Corné van Zeijl of Actiam, that date is, contrary to the myth, not an unlucky day for investors: on average, they made a profit on this day in recent years.

Statistics Netherlands reported 7.7% quarter-on-quarter growth for the Dutch economy for the months of July, August and September, the strongest increase ever.

“Extra monetary support”

According to Jan-Willem Nijkamp, ​​asset manager at Fintessa, a nice recovery is visible in the eurozone in the third quarter, but it remains to be seen what the current quarter will look like given the tightening of the corona measures in many countries. “Although the European central bank is positive about the recovery strength in the coming year, it is still too little to be able to stand on your own two feet and an extra monetary support is needed.”

Furthermore, eyes are still on politics in America, where Joe Biden got a boost from China’s congratulations for his victory in the presidential election. Nijkamp expects that next year after the official appointment of Biden as president, the Republicans will be prepared to compromise on new simulation, especially in the event of an imminent downturn of the US economy. “The role of Trump seems to be over, certainly because even his favorite channel has declared Fox Biden the winner.”

Nijkamp takes into account that after the strong recovery in recent weeks, the stock markets will gain even more momentum towards the end of the year. “Not only were third-quarter earnings outperformance by a large majority, but the upward revision of forecasts at many companies has given investors confidence. In addition, an economic improvement is on the horizon once the corona vaccine is provided sometime in the course of next year. ”

Elsewhere in Europe, the German DAX, the French CAC 40 had small gains, the British FTSE 100 recorded a 0.3% loss after a fuss within Prime Minister Johnson’s cabinet.

Fear of corona

On Wall Street, the Dow Jones index closed with a 1.1% loss at 29,080 points. Walt disney reported the first loss in 40 years, but closed higher – the performance of streaming service Disney Plus performed better than expected with 73 million subscribers.

Chips in the taste

Meal delivery profit declined in the main funds Just Eat Takeaway to 0.5%.

Chipmachinemaker ASMI took the lead in became worth 2.7% more, sector colleague ASML lasted (+ 1.4%). Nijkamp assumes that after the sharp correction at the beginning of this week, tech funds will pull the cart again in the near future, given the uncertainty surrounding the second corona wave.

Broadcast giant Randstad became worth 1.2% more. In front of Arcelor investors had 1% more left.

Unibail-Rodamco-Westfield recovered 1%. According to credit rating agency Moody’s, the retail property fund may be waiting for a lowering of its creditworthiness score. Moody’s refers to the abandonment of the planned € 3.5 billion share issue after shareholder opposition. Nijkamp foresees that the heyday for retail real estate will no longer return due to the expected continuing trend of consumers to continue to buy products online.

Energy company Shell lost 0.4%. Nijkamp assumes that the Shell share, which has already risen sharply since last week, is one of the recovery candidates. He points out that with the end of the pandemic in sight, demand for oil will pick up sharply again.

KPN (-0.5%) took a step back after the enthusiasm surrounding the telecom group earlier this week due to takeover speculation. The Swedish investment company EQT of the Wallenberg family would be particularly interested in KPN’s network. EQT has been the owner of the Dutch telecom company Delta Fiber since 2017. Its director Marco Visser, from KPN, previously called the merger of KPN and Delta ‘one of the obvious options’. A takeover of KPN that is important for the infrastructure in the Netherlands has quite a few hooks and eyes, says Nijkamp. According to him, a split of the telecom group could ease the way to a takeover deal.

Besi directs Midkap

Chip supplier Iron (+ 3.9%) held the lead firmly among the medium-sized funds.

Air France KLM could also count on buyers’ interest with a plus of 2.2%. The airline company wants to play a role in the transport of the corona vaccine.

BAM was also among the bigger winners. The price of the construction company rose 3%.

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