Prosus and Philips deliver AEX lower lock | Financial

The AEX index ended 0.6% lower at 745.10 points. On Friday, the stock market indicator reached its highest close ever. The AMX rose 0.7% to 1061.57 points today. The price boards in London (-0.1%), Paris (-0.01%) and Frankfurt (-0.4%) turned red.

Of US stock exchanges started this afternoon with modest losses. Shortly after opening, tech exchange Nasdaq is 0.2% lower. The Dow Jones index is 0.1% in the red. Stocks in New York rose 0.7% to 1% on Friday.

Asia sets the tone today. The Chinese stock market indicators closed up to 4% lower, due to new government interventions at the tech companies.

Asset manager Joop van de Groep (Fintessa) is not too concerned about the current declines in the stock markets. “We saw a bigger dip at the beginning of last week, but the week ended on a positive note. In the US so far, 88% of quarterly results exceed expectations. We do see that companies are sometimes penalized for their expectations, especially if they have difficulty passing on the increased production costs to customers. It is therefore important to invest mainly in companies that, thanks to their strong market position pricing power have, with ASML as an appealing example.”

Price drop Prosus

The AEX was mainly pulled down by the 8.8% fall at tech investor Prosus. “In China we see a power struggle between the authorities and the tech giants. On Friday, the communist party already decided that educational online programs should become non-profit. Now she is tackling Tencent Music, which she believes is too much of a power bloc. We said goodbye to Prosus a few weeks ago because we thought the political risk was too great and we have no intention of getting back in.”

Philips lost 4.2%. Van de Groep points out that the healthcare technology company does not live up to the high expectations, which it has partly created itself, in its quarterly figures. The announced share buy-back is apparently not very appealing to investors either. Former daughter of light Signify declined 3.9%.

Food and Cleaning Products Manufacturer Unilever, which surprised negatively with its quarterly report on Thursday, missed another 2.6%.

Steel giant ArcelorMittal led the main funds with a plus of 4.4%. ING rose 3.4%. Banks in the eurozone will be allowed to pay dividends again from October if their financial situation allows. The ECB will not extend the corona measure that temporarily banned the payment of dividends and the repurchase of own shares.

retail property fund Unibail became worth 2.7% more. The loss for the AEX was also limited by heavyweight Royal Dutch Shell (+2,7%).

Insurer NN added 1.2%. According to the British business newspaper Financial Times Goldman Sachs Asset Management and DWS want to pay approximately $1.4 billion for its investment arm.

Among the medium-sized funds was metal supplier AMG with a gain of 4.7% at the top. Air France KLM rose 2.3%, buoyed by Ryanair’s expectations of turning a profit in the summer. Coffee and tea manufacturer JDE Peet’s (-3.1%) was the biggest loser in the AMX.

Better Bed rebounded 1.7% in the local market. The bedroom specialist has issued nearly a million new shares at a price of €6.82 per share to strengthen its financial position and execute its growth strategy.

ICT Group won 0.7%. Investor NPM Capital and major shareholder Teslin are continuing the acquisition of the automation company. They now own 80% of the shares.

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