ING and Shell push AEX to small loss | Financial

The main index is down 0.2% at 731.9 points.

The AEX rose last week, at record highs for the S&P500 and Nasdaq, by 1.9% to 733.14 points. The record stands at 734.89 points. The Midkap is down 0.4% to 1046.8 points.

Elsewhere in Europe, the FTSE100 is weakening 0.6%. Burberry loses 6% after the unexpected departure of CEO Marco Gobbetti to the Italian Salvatore Ferragamo. The German DAX is scraping 0.3%, the French CAC 40 is down 0.6%.

Oil price pressure

,,The market is clearly looking for direction, but the turnover is very low. Currencies and commodities also move calmly,” says investment advisor Rein Schutte of Noesis Capital.

ECB executive Panetta said today that the chance of a revival of inflation after the first wave of price increases due to deficits is limited. The support to the market will not be withdrawn early, said Panetta.

The price of Brent oil is 0.1% loss just above $76 a barrel. On Thursday, the OPEC oil cartel will meet with partners such as Russia to discuss the market and production figures for August. There are old production restrictions on the table, while the demand for fuel is rising.

The world’s largest oil companies will see their free cash flow rise to a record $348 billion this year, according to market researcher Rystad Energy, from the 2008 record $311 billion, according to estimates by market researcher Rystad Energy.

The euro falls 0.1% to $1.1927, gold (+0.2%) and silver +0.4%) gain ground. Bitcon gains 4.2%, UK laid down trading platform Binance, operating unlicensed, on tires.

The interest rate for a 10-year US Treasury bond is above 1.5%. “We have not seen that since the beginning of June,” said ING specialist Robert Carnell.

Job numbers crucial

Today, 180 million people are infected with corona, according to the Johns Hopkins Institute. The increase in the Delta variant is depressing shares of travel companies. “This variant is already leading to new and stricter lockdown measures in countries such as Australia, South Africa, but also countries with a high vaccination rate such as Israel,” said Rabobank. But a flight to safe harbors ‘doesn’t seem like a real possibility yet’.

The US jobs report from next Friday of June is the highlight of the week for many investors, with about 700,000 jobs expected. That is more than the 559,000 in May, but lower than forecasts of a million jobs a few months ago. “If this comes out with strong figures, there is a greater chance of a reduction in stimulus from the central bank,” said ING market analyst Simon Wiersma. “In the event of disappointing figures, the Fed’s money tap will remain open.”

NN wint

At the main funds, retail property fund Unibail-Rodamco-Westfield back by 1.4%. Unibail (€76.86) received a sell recommendation from Société Générale, coming from neutral, at a price target of €67.30.

Steelmaker ArcelorMittal drops 1.5%, ING loses 1.4%, just like insurer Aegon. “Of all bancassurers, Aegon has been under the most pressure for days. The company is relatively affected by interest rate developments in the United States,” says Schutte.

Just Eat Takeaway falls 0.7%. The American business magazine Barron’s called the stock “a cheap way” to explore the world of meal investors as an investor.

Dataleveranciers Relx on Wolters Kluwer keep it dry with around 0.7% price gain.

Insurer NN Group win 0.6%. It has made an offer for ‘a part of the activities of MetLife‘ in Europe. NN has not yet made any announcements about which parts are involved, or the amount of the offer. KBC Securities raises the target price from €41 to €43, with ‘accumulate’ as a recommendation.

Payment processor Adyen gains 1.2% at €2007 on the buy recommendation of Kepler Cheuvreux, with a price target of €2400. The financial services provider sees Adyen in a unique position in the payment market, and it also has better technology than its rivals.

In the medium-sized funds, ABN Amro 1.5% back. coffee roaster JDPeet’s leads the Midkap to 1.5% price gain. The former CSM, now as Corbion trades in lactic acid derivatives and lactides, among other things, is 0.7% higher.

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