Investor counts on Biden as president | Financial

The AEX was 1.3% higher at 572.5 points at a quarter to two. The AMX rose 0.8% to 825.5 points.

The other European stock markets also continued the strong rise of the past few days positively. The UK FTSE 100, German DAX and French CAC 40 climbed 0.5%, 1.5% and 1.1% respectively.

Index futures pointed to a 1.4% to 2.6% higher opening of the US stock markets at 3:30 this afternoon, following the already nice gains of 1.3% to 3.8% on Wednesday.

While the votes are still counting in several states, it looks like Joe Biden will be the next US president. “And that is positive for trade relations with China, but also Europe. Under Biden, these are likely to normalize after Trump has gone in with a straight leg in recent years, ”reports Sander Zondag, Obam’s fund manager.

That investors are also happy that the Senate remains in Republican hands, according to Zondag, is because “a completely left-wing agenda is not forthcoming. Biden wants to bring health care to every American and fund it with tax increases. The absence of a blue wave makes it more difficult to implement substantial tax increases for companies and families with an income of more than $ 150,000. ”

The fund manager argues that the current rally of technology companies is primarily due to the sharp drop in interest rates in the US, which is beneficial for their valuations. “They also benefit from an improvement in the relationship with China, which is a good sales market. In addition, the Democrats will use the techbedrijven while trying to tackle this, but underlying growth remains strong. ”

Tech funds are leading the way

Also helped by the better-than-expected quarterly figures and the favorable forecast of the American chip manufacturer Qualcomm, the suppliers ASMI in ASML 4.1% and 4.2% up respectively.

Meal delivery company Just Eat Takeaway in techinvesteerder Prosus won 3.2% and 3.1%.

Heineken rose 3.1%, helped by a positive report from Credit Suisse.

ING lost 5.7%, after the publication of disappointing results for the third quarter. The banking group also announced approx 1000 jobs te deleted from investment banks and retail units abroad.

ArcelorMittal fell 2.6%. It steel concern managed to find its way back up last quarter, but is not venturing concrete predictions for the rest of the year due to the corona crisis.

RD Shell faced a loss of 1.3%. This put a halt to the strong recovery since last Thursday.

Adyen, that to one trial works with mobile payments at online supermarket Picnic, lost 0.3% due to profit-taking.

Builders win

With the medium-sized funds, the supplier went for the chip industry Iron with a plus of 4.7% in the lead.

BAM fell 1.9%, after rising sharply at opening. The contractor knew his performance to improve ‘considerably’ in the third quarter compared to the first six months, but is facing a problem at the Afsluitdijk.

Smallcap Elves shot up 7.7%. The charging station manufacturer was commissioned in Middelburg.

Construction company Heijmans gained 5.4% after an upward adjustment of the annual forecast.

Sif added 4.1%. His quarterly report shows that the foundation specialist benefits greatly from the growth in the number of offshore wind farms.

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