After a light green open on the Damrak, the AEX eventually closed 0.4% lower. ASMI shareholders can view price signals with a little less sadness. The wood chipper closed higher after an increase in the outlook. However, the “only” 2.9% price increase is somewhat disappointing after opening more than 6% higher this morning.
Good news from Germany: inflation has fallen faster than expected. In November, annual inflation fell to 10%. This is significantly lower than last month’s 10.4% and also the 10.4% consensus.
Online shopping continues to gain momentum
“E-commerce platform Shopify (+0.5%) puts small business owners on a highly scalable digital rocket. The platform not only ensures a large online reach, but also completely relieves entrepreneurs. Logistics, payments, administration and inventory management can all be sorted out,” says optimistic Paul Weeteling.
However, the price has suffered a major post-coronavirus catastrophe this year, now that physical stores are open again and the interest rate environment is completely different. Results are under pressure, because large investments are needed to maintain growth. You can read all about it in analyze van Shopify.
Shopify: Online shopping continues to gain momentum https://t.co/SBcUHwX0jA #IEX
— IEX.nl (@IEXnl) November 29, 2022
It went very fast with Allianz
The course of Allianz (+0.9%) has increased since the publication of the third quarter data. The share price fell below 160 euros in early September, but three months later there is a position of over 200 euros on the board. “However, the results weren’t very special,” says analyst Niels Koerts. “Revenue increased by 1.3% to €34.8 billion in the third quarter, but this is entirely the result of acquisitions and a positive currency effect. Adjusted for this, it remains a decline of 3.7%”.
The positive news therefore lies in the operating result, which grew by 7% in the third quarter to 3.5 billion euro. As a result, the insurer saw an opportunity to adjust its forecast upwards for the full year. You can read in detail how this affects your advice and price target Allianz analysis.
The course of #Allianz it increased in a straight line from third-quarter earnings. This while the company’s figures are not impressive. The increase in turnover is entirely due to the positive exchange rate effect and acquisitions.
You can read my analysis below:https://t.co/Yzbhvw1AY6 pic.twitter.com/mvzBymiczF
— Niels Koerts (@KoertsNiels) November 29, 2022
The first 3 risers and fallers
See today’s winners and losers here.
Annuities
Interest rates are going down today. The Dutch ten-year rate lost seven basis points and thus stood at 2.22%.
Large market
- The AEX (-0.4%) fared worse than the German DAX (-0.1%) and the French CAC 40 (+0.1%).
- The CBOE VIX index (volatility) rises to 22.3 points.
- Wall Street trades as follows: S&P 500 (-0.6%), Dow 30 (-0.5%) and Nasdaq (-0.8%).
- The euro remains at 1.034 against the US dollar.
- Gold (+0.6%) and silver (+1.4%) rose.
- Oil: WTI (+0.5%) and Brent (+0.3%) also turn green.
- Bitcoin (+1.1%) is positive.
The Damrak
- Energy companies like Shell (+1.8%) are in green today. Bloomberg wrote this morning that Saudi Arabia and other OPEC+ members are considering cutting production by two million barrels a day.
- ING has its price target up front Aegon (+0.6%) reduced. The buy rating remains in place, but the price target has been adjusted down to €6.16.
- ASMI (+2.9%) raised its fourth quarter sales forecast as the impact of US export restrictions on China will be less than initially feared. ASMI will also be able to ship more orders. However, the Dutch semiconductor specialist remains cautious, says Jefferies analyst Janardan Menon.
- Vopak (+0.8%) goes green today, because the Norwegian shipping group Wilhelmsen Port Services wants to take over Vopak Agencies and together with Vopak Ventures BV also take over the Vopak subsidiary Diize BV.
- We open (+3.6%) is increasingly trying to shape the recovery. The new higher floor indicates increased demand for the security. Read more about the update Tostrams-website.
- Fixed (+0.1%) announced a new bond issue on Tuesday. These are bonds with a duration of 4.5 years and a coupon of 5%. Proceeds from the issue will be used to finance the further expansion of Fastned’s fast charging network and for general corporate purposes. The bonds sell for €1,000 each.
Advice (source: Guruwatch.nl)
- Aegon: at €6.16 from €6.30 and buy – ING
- Just Eat Takeaway: at €40 from €60 and buy – ING
- AkzoNobel: at €84 from €77 and purchase – Goldman Sachs
Agenda Wednesday 30 November
00:00 Azerion – Third quarter data
03:30 Manufacturing and Services Purchasing Managers Index – November (Who)
06:30 Retail Turnover – October (NL)
06:30 Producer prices – October (NL)
08:45 Inflation – November Elections (From)
08:45 Economic growth – Final third quarter (fra)
09:55 Unemployment – October (Germany)
11:00 Inflation – November vlpg (eur)
11:00 Economic Growth – Third Quarter (call)
1:00pm Mortgage Applications – Weekly (US)
14:15 Banenrapport ADP – November (VS)
14:30 Economic Growth – Q3 2nd Estimate (US)
15:45 Chicago Purchasing Managers Index – November (United States)
4:00pm Jobs – October (US)
4:00pm Upcoming Home Sales – October (US)
4:30pm Oil Stocks – Weekly (US)
8:00 pm Federal Reserve – Beige Book (VS)
10:00 PM Salesforce – US Q3 data
10:00pm Snowflake – Second Quarter Data (US)
Coen Grutters is editor of IEX. The information in this column is not intended to be professional investment advice or a recommendation for making any particular investment. Click here for an overview of IEX publisher investments.
