Investor sees sunny weather | Financial

After a 3% loss last week, the AEX was 1.3% higher at 547.3 points at half past four. The AMX rose 0.9% to 800 points.

Most other European stock market indicators performed even better. The British FTSE 100 was up 2.3%, the French CAC 40 gained 1.8% and the German DAX was up 1.9%.

The US stock exchanges are closed today due to Labor Day.

The euro traded a fraction lower at $ 1,182.

‘Not much potential’

Broker IG believes that clients should not be in a hurry to make new stock purchases. “I don’t expect much potential in the equity markets in the short term. European corporate earnings fell by more than 50% in the second quarter, ”said Salah-Eddine Bouhmidi, IG’s head of markets.

Today’s Group director Cees Smit is also cautious. He thinks that after the correction late last week, major US technology stocks could sink further. The recent rally in such companies is said to be partly due to large purchases of call options by Japan’s SoftBank. To what extent this is correct, hedge fund manager Etienne Platte of Antaurus is afraid to say. “It is clear that options trading increases volatility in technology stocks.”

ASMI in trek

The Dutch main funds went Just Eat Takeaway, a favorite of Platte, with a plus of 3.2% in the lead. Galapagos 2.6% was in recovery, after having lost more than a third in a few weeks time because its rheumatism drug is not allowed to be launched in the US for the time being.

Payment processor Adyen, this year’s topper climbed 2.5%. The supplier to the chip sector ASMI rose 2.4%.

Shell gained 1.4%, despite the drop in oil prices to $ 42 for Brent European and $ 39 for US WTI after oil cartel OPEC cut its contract prices.

ABN Amro fell 0.5%. According to calculations by the Central Planning Bureau, the Dutch banks have sufficient buffers to deal with problems with bankruptcies due to the corona crisis.

Chipmachinemaker ASML lost 0.3% after the report from the Wall Street Journal that the United States wants to impose export measures on Semiconductor Manufacturing International Corp (SMIC), a customer of the Veldhoven group. According to Citi, expansion for SMIC is thus blocked. China’s largest semiconductor fell 20% on the Hong Kong stock exchange.

ASML is still waiting for an export license for a new EUV machine. But that effect is limited for ASML, according to ING. A recent meeting with CFO Dassen reassured analyst Marc Hesselink about the outlook for the rest of the year.

The medium-sized funds involved specialty chemicals Corbion in Basic-Fit with pluses of 4% and 2.6% in the lead.

Charging station manufacturer Elves excelled in small caps with a 10.1% gain. Retail real estate fund Wereldhave (+ 1.6%) responded positively to the increase in its debt facilities to more than € 130 million. All debt obligations are covered until the third quarter of 2022.

–