Bitter Pill Galapagos; Randstad does a good job | Financial

Around a quarter past twelve the AEX index was 0.7% lower at 560.15 points. The AMX fell 0.2% to 834.55 points.

The price signs elsewhere in Europe also colored less red. Paris and Frankfurt both dropped 0.9%.

Secretary of the Treasury Steven Mnuchin and Nancy Pelosi, the Democratic chair of the US House of Representatives, missed Tuesday’s deadline for drafting a new bailout package for victims of the US corona crisis. But they did come closer to an agreement and are expected to continue speaking today.

“Up or Down”

Joop van de Groep, asset manager at Fintessa, emphasizes that today it is either on or under in America to close a deal on a new corona support package before the elections. “President Trump in particular will have to shift to the Democrats who want to assist individual states financially. It certainly isn’t done deal. Nevertheless, the market is taking into account that after the elections there will eventually be tax incentives left or right. ”

In addition, the election battle between Trump and his challenger Joe Biden is nearing its climax. Van de Groep points out that there is still a so-called ‘Blue Wave’is envisaged, with Biden becoming the new president and receiving a majority in Congress. “Still, Trump may still be able to do a gamechanger come, for example, a vaccine against a coronavirus. A very negative scenario for the market is a result where there is no clear winner. ”

In the AEX, Randstad shot up 7.3%. The broadcaster showed further recovery in the third quarter, after the group was previously hit hard by the corona crisis. Randstad continued in the period significantly lower results in the books than a year ago. But the numbers were generally better than analysts expected. According to Van de Groep, it remains to be seen how Randstad will perform in the fourth quarter with the arrival of the second corona wave, which could hamper demand in the temporary employment market. “They may also benefit from permanent staff not being able to work because of the quarataine.”

Insurer Aegon followed with a plus of 1.8%. The financial values ​​lay ABN Amro also nice and won 1%.

Galapagos (-6.9% on € 104.10) dangled at the bottom. Goldman Sachs provided a sales recommendation for the biotechnology group. The investment bank also lowered its target price for the Galapagos share from € 108 to € 87.

Unibail was written down 3.1%. A group of shareholders opposed a share issue of the retail property fund last week, but according to chairman of the board Colin Dyer, their alternative plan is ‘unattainable’.

Philips lost 2.1%. At the beginning of this week, investors were still satisfied with the quarterly results of the healthcare technology group.

Unilever that will open the books tomorrow, 1.3% slipped.

AkzoNobel fell 0.3%. The paint concern booked last quarter a significantly higher profit, but apparently investors had expected a little more. The paint manufacturer mainly benefited from cost savings in the past quarter.

Adyen (-0.4%) reported having found a successor for technology director and co-founder Arnout Schuijff. His role in the payment processor will be taken over by Alexander Matthey starting the new year. He has been working for Adyen for over five years.

In de AMX was Pharming in demand with a price jump of 3.1%. The biotech company announced that it had received orphan drug status from the European Commission for his medicine leniolisib. This is a drug for the treatment of APDS, a rare and serious disease affecting the immune system.

After a depressed start, Fugro shot up another 6.7%. With that, Tuesday’s cheer got a nice follow-up.

Logistics real estate fund WDP (+ 1.6%) tightened the profit forecast for the whole year and is now counting on it earnings per share of € 1. Previously, a bandwidth of € 0.95 to € 1.00 was assumed.

Smallcapfonds Nedap (+ 4.4%) already released a quarterly update on Tuesday after the closing bell. The technology company saw sales in the third quarter fall by 5 percent compared to a year ago.

Also the locally noted maker of meat and fish processing machines Marel (+ 3.8%) came after the closing bell with numbers. The company posted less turnover and profit last quarter.

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