The AEX index closed 0.9% higher at 577.56 points.
The AMX closed 0.6% higher at 772.66 points.
The stock signs in London showed gains (+ 1.8%), Paris (+ 2.2%) and Frankfurt (+ 1.5%) also turned green. The Spanish stock market clearly lagged.
AXA Group chief economist Gilles Moëc warned against too much optimism. “The number of corona victims is starting to rise again. This will raise awareness about the magnitude of the crisis. The revival in the third quarter is certainly getting a dent, ”he said.
Investors were still positive after hopeful developments regarding a corona vaccine, first of all from the American biotech company Moderna. According to scientists, the corona vaccine provided antibodies in all 45 subjects in the first test phase. An AstraZeneca drug would also take new steps.
“The likelihood of a vaccine or drug against the coronavirus brings faith to the market; which gives a wider profit than just in medicine makers, ”says investment advisor Rein Schutte of Noesis Capital.
The Dow Jones rose 1.1% or 294 points, the S&P 500 took off with a 0.9% gain and the Nasdaq lagged with an increase of 0.3%.
ING investment manager Simon Wiersma: “With hope for a quick corona vaccine, there is hope for a quick return to ‘normal’. This is mainly reflected today in the relatively strong increase in the more cyclical equity sectors such as industrial goods, energy and basic materials that have lagged behind. On the other hand, the figures of ASML, United Health and Goldman Sachs hardly or not surprisingly surprise investors. ”
He also sees doubts on the bond market. “With so much enthusiasm in the stock markets, you should see interest rates rise faster. Investors are holding their arm, they are awaiting the ECB meeting tomorrow and the Friday and Saturday meeting on the European Recovery Fund. ”
The euro was worth 0.3% more. Brent oil rose 1.4% in price: $ 43.50 a barrel. The American Petroleum Institute reported a decline in the oil supply. Bloomberg reports that oil cartel OPEC and allies are still following the existing production restriction today.
ASML is sinking
In the AEX reinforced Galapagos are leading the bell at a profit of 5.8% – after a price hit of 5.9% Tuesday. According to analyst Jos Versteeg (InsingerGilissen), investors in Galapagos can take a beating, given the volatile price movements of the stock.
Philips followed with a 4.5% profit.
Chemicaliëndistributeur IMCD was worth 4.4% more.
Steel manufacturer ArcelorMittal (+2%) benefited from buying advice from investment bank Goldman Sachs.
After morning loss, many financials recovered. Insurer NN (+ 0.1%) recovered, too Aegon (+ 0.6%), the most traded share ING (+ 3%) in ABN Amro (+ 1.7%) were picked up in the afternoon.
Shell in Unilever were worth 1.5% and 1.4% more respectively.
ASML eventually lost 3.7% in the afternoon. The chip machine manufacturer from Veldhoven managed to increase profits in the second quarter amid the corona crisis. ASML is also optimistic for the rest of the year. But last quarter sales were slightly below analyst expectations. The ASML order book also became less fat. ASML subsided due to a explainable drop in turnover, which will be caught up in the third quarter, according to investment bank KBC.
Former sister company ASMI lost 0.2%.
Tech index Nasdaq performed 25% better than the broader US stock market this year. Tech stocks, in particular, are under pressure if the government does not better control the corona virus in the US, said Christopher Jeffery of asset manager Legal & General Investment Management.
In the AMX index were engineering firms Basic-Fit (+ 3.5%), aviation group Air France KLM (+ 6.7%) and lighting producer Pharming (+ 2.8%) the biggest risers.
Real estate funds WDP (-2.7%) in Eurocommercial Properties (-1.5%) were the largest laggards in medium-sized funds.
TomTom: improvement visible after trough
The small cap funds remained TomTom thanks to 9.7% profit on the route. ING called its quarterly results ‘reassuring’. The navigation service provider has been hit hard by the corona crisis, but according to CEO Harold Goddijn there is now an improvement visible. TomTom saw sales decrease by 41% in the past quarter and suffered a loss of € 62 million. According to Goddijn, operating revenues are recovering from the April low, but he did not dare to forecast for the year.
Automator ICT Group won 2.7%. It took over Esprit Management & IT Services.
Biotech company Vivoryon (+ 4.3%) enrolled the first patient in a phase 2b Alzheimer’s study. The study will evaluate the safety and effectiveness of Vivoryon’s lead candidate drug, varoglutamstat (PQ912), in approximately 250 Alzheimer’s patients in the Netherlands, Germany and Denmark.
Annual loss for Oranjewoud
Locally noted Oranjewoud remained flat. It suffered a loss for the first time in years last year. The parent company of construction company Strukton and engineering firm Antea Group had to bleed mainly due to a number of maintenance contracts with ProRail. Problems with a major Danish contract for a rail traffic management system also put pressure on the result.
Tie Kinetix left 6.7%. The software company reported in an interim trading update that demand for services and order intake are developing as expected.
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