Takeaway in demand; ABN and Prosus heavy on the stomach | Financial

The AEX index recorded 0.3% at 593.97 points around a quarter past twelve. The AMX index was 0.9% higher at 853.38 points.

Elsewhere in Europe, the German DAX index and French CAC 40 headed slightly in the red, while the British FTSE 100 rose a fraction.

The number of corona infections leveled off in the Netherlands, but is increasing significantly elsewhere. In Germany, the number of infections has passed 700,000 and more than a million infections have already been diagnosed in France, Russia and the United Kingdom. The United States leads the way, according to data from Johns Hopkins University, with more than 10.2 million infected and 240,000 dead.

In New York, according to the futures, the major stock markets are trading at a gain of 0.7% to 1.1% for the Nasdaq when they open at 3:30 PM. The Dow Jones closed 0.9% higher at 29,420.92 points, the technology-heavy Nasdaq then recorded a 1.4% loss.

President Trump’s faltering transfer of power to Democrat Joe Biden is worrying investors. Promised innovations and investments are in danger of getting a false start. Even now that the US Congress remains fairly certainly divided between Republicans and Democrats.

Political turbulence in the US

Simon Wiersma, strategist at the ING Investment Office, emphasizes that the political turbulence in the US is helping to dampen the euphoria about Pfizer’s promising corona vaccine. He points out that the Republicans are probably no longer eager to reach a deal on new corona support given the improvement in the US labor market.

The fast approached deadline The departure of the United Kingdom from the European Union, which is planned for the end of this year, will also continue to dominate, says Wiersma. “As time comes to close another Brexit deal, the turbulence in the stock markets will intensify.”

Wiersma takes into account that the large rotation from tech funds to value stocks that started this week will not be structural. “There was a Pavlovian reaction among investors to buy value stocks on the news about the corona vaccine because of the prospect of a significant economic recovery, but we have yet to get through the second wave of corona. In addition, there are still problems to be solved in the large-scale roll-out of the vaccine. ”

Prosus down

Tech investment fund went to the main funds Prosus by almost 5.3%. The fund could suffer from tighter rules for internet companies from China. According to Wiersma, it remains to be seen how much pain a tightening of the rules will mean for large Chinese internet companies. “The holding back of the Ant Group IPO earlier this month was already a sign on the wall.”

Unibail-Rodamco-Westfield Profit-taking slipped 6.5%. The retail property fund rose sharply in recent days after the boost about the vaccine.

ABN Amro incurred a loss of 4.4%. Although third quarter profit was back, investors were not impressed by the third quarter performance. Rein Schutte, investment advisor at Noesis Capital Management also points out that the stock has shown a significant recovery in recent days. The bank set aside less capital for the loans that may never be repaid. The board of directors did not want to hear about his announced new strategy. The results largely fell short of expectations for ING analyst Albert Ploegh, who uses holding advice. “But we see room for surprises in costs in 2021.”

IMCD had a strong tailwind with a gain of 3.1%. The results of the chemical distributor were well received. According to CEO Van der Slikke, IMCD made more profit in the first nine months on slightly higher turnover. He sees further growth in his operating result for the full year.

Food delivery person Just Eat Takeaway also did good business and won 3.7%, Adyen thickness 2.8%.

Heavyweight Shell received a buy recommendation, coming from ‘holding’ from Berenberg and was worth 2.5% more to investors in the rising oil market. The oil and gas company is thus continuing its advance unabated.

In the case of medium-sized funds Fugro the lead with a plus of 3.9% helped by the improved performance of the oil market.

Air France KLM saw the profit evaporate and lost 1.1% at € 3.9. Goldman Sachs will follow the group again, it uses a sales advice with a price target of € 3.70.

The Duivense chip supplier Iron went down the AMX with real estate fund Eurocommercial Properties by 2.5%.

Bicycle maker Accell (Batavus, Sparta) gained almost 4% in the small caps. Thanks to the bicycle craze in the third quarter, it managed to generate 38% more turnover compared to last year. The board raised its expectations, expecting a better gross profit this year than last year. ING analyst Tijs Hollestelle, who increased his advice to buy in September, spoke of a strong quarter with good prospects.

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