Arcelor increases profit on sunny Damrak | Financial

The AEX index was 1% higher at 546.5 points around 11 am. The AMX was then 1.2% in the plus at 793.8 points. The agenda is almost empty. In the Netherlands, producer confidence increased further in September, for the fifth month in a row.

“Investors are holding on to the positive end to Wall Street Friday night and new hope for more economic support,” said ING investment manager Simon Wiersma, referring to an interview with Democratic leader Nancy Pelosi who pledged support to Americans this weekend.

The British FTSE 100 index rose 1.5%, the German DAX with 2.3% share Deutsche Bank strengthened 3.6%, and the French CAC-40 became 1.7% more expensive.

The Brexit talks will continue on Monday. With Downing Street looking to scrap 10 parts of the deal, tough negotiations are expected.

In Asia, the Japanese Nikkei left the trade with a profit of over 1.3%. Profits of Chinese industrial companies increased 19.1% in August compared to last year. This is the fourth month in a row with a profit.

Futures for the New York stock markets, which closed with solid gains on Friday, pointed to a higher opening of around 0.7%. Investors are on the eve of the first round of the US presidential election.

The euro remained flat at $ 1.16275. Brent oil fell 0.8% in value to $ 41.60 a barrel.

Steel is on the rise

The largest steelmaker ArcelorMittal won 9.6% to € 11.29 and led the AEX. It sold the ArcelorMittal USA business to US steelmaker Cleveland-Cliffs for $ 1.4 billion. Arcelor closed an excellent deal, ING analysts praise both the purchase price and the balance sheet strengthening. ING has a purchase advice of € 18.00.

Biotech company Galapagos (+ 5.1%) also received the green light from the European Commission for its filgotinib, shortly after the approval given by Japan. KBC raised its target price a fraction to € 145.00 with continued purchase advice.

Financial institutions also increased their profits. Aegon increased 5%, ING met 3,5%, NN Group thickness by 2.5%, ABN Amro by 4.1% and ASR won 2,5%.

Real estate fund Unibail-Rodamco-Westfield increased by another 2.6%.

Food delivery person Just Eat TakeAway thickness 1.7%. Its shareholders were advised by institutional investor voting consultancy Glass Lewis and ISS to vote in favor of the acquisition of GrubHub.

Swing weight Shell became 1.7% more expensive.

At the Amsterdam main funds ASML after an initial loss (+ 0.3%) on the new trade restriction that Washington imposed on its customer, the largest Chinese chip maker SMIC. ASMI won 0,8%.

Fitness chain reported among the medium-sized funds Basic-Fit (-1%) to appeal the forced closure of 148 gyms in Paris, Bordeaux and Marseille. Already priced in, KBC Securities responded to the message.

Real estate fund Eurocommercial Properties led this index at 6.2%. Pharming won 5,2%.

Kiadis Pharma (+ 1.8%) entered into a partnership with the American blood bank Gulf Coast Regional Blood Center.

Oranjewoud, parent company of construction company Strukton and engineering firm Antea, reported a net loss of € 10.5 million for the first half of the year. In addition to nitrogen and PFAS problems, the corona pandemic also had “limited consequences” for Oranjewoud, the company said. The course hardly moved.

Biotech company Vivoryon rose 10%. It goes to an NV structure, the current German structure would impose too many restrictions.

The manufacturer of aluminum ladders gave ‘Corona handymen’ Alumexx 40% increase in turnover to € 1.6 million. Alumexx grew particularly fast in the Netherlands: + 62%. The share rose 2.5%.

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