Sour taste Galapagos and Adyen; Prosus in demand | Financial

The AEX was 0.3% higher at 554.1 points around noon. On Thursday, the main Amsterdam stock market indicator still had 1.4% handed in. The AMX was unchanged at 801.6 points

The other European stock market indicators also barely moved. The British FTSE fell 0.2%. The German DAX and French CAC 40 were up 0.2% and 0.1% respectively.

Index futures pointed to a slightly lower start of the US stock markets at 3:30 pm this afternoon, after the profits from 0.2% to 1.1% on Thursdays.

Investors are getting over the disappointment that new support measures for the US economy are still not forthcoming, although recent macro reports have been disappointing on balance. Last week, for example, more Americans applied for unemployment benefits than the week before.

The fact that the purchasing managers’ indices showed that the recovery of the European industry is faltering this morning did not seem to bother investors. Mainly due to the unexpected dip in France, industrial activity remained at the same level as a month ago.

Hope and fear

Stan Westerterp, asset manager at Bond Capital Partner, emphasizes that investors still float between hope and fear. He points out that on the one hand the economic impact of the corona crisis lingers above the market, but on the other hand there is confidence in the arrival of a corona vaccine that provides support. “It is expected that at the end of the year when there is more clarity about a possible vaccine and about the outcome of the US presidential elections, the way will be cleared for the AEX to return to the 600 points, especially if the big names, such as ING and Shell, who are lagging well behind this year, will participate again. In the coming months, however, I am anticipating a net sideways movement in prices. ”

The Dutch main funds went Prosus with a profit of 2.8% in the lead, helped by the good price recovery at the Chinese tech giant Tencent, in which the tech investor has a major interest. Chip machine manufacturer ASML also had a tailwind, climbing 1.3%, following the good course of business at the large American customer Intel a day earlier.

Real estate fund Unibail-Rodamco-Westfield continued the recovery that started on Thursday from a historical low with a gain of 2.7%. DSM could also count on buyers’ interest with a plus of 1.9%.

Relx won 0.7%, on the intention a British data-analysebedrijf to take over.

It plagued this week Galapagos yielded 4.4%. With that, the slight recovery on Thursday in response to the price drop of the day before was amply lost. It then became known that the biotechnology company will not yet be allowed to introduce its rheumatism on the American market.

Adyen plunged another 4.5%, on the news that executives are selling about 15% of their shares. On Thursday, the payment processing company already slumped after slightly disappointing quarterly figures. Investment bank Degroof Petercam raised the price target to € 1025, but that is still well below the current level. The sales advice was thus maintained.

The leader sprinted among the medium-sized funds Basic-Fit 3.4% forward. Trading house Flow Traders dropped fractionally after being removed from the purchase list by Degroof Petercam.

The builder included in the AScX index Heijmans gained 0.4% after an intermediate dip. The half-year figures were better than expected, according to ING and Degroof Petercam, among others. The investment bank saw reason to increase the price target, but remains with its holding advice.

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