Tech is bothering AEX; PostNL steals the show at Damrak | Financial

The AEX recorded 0.2% lower at 556.58 points around four o’clock, after opening at almost 560 points. The AMX did a lot better with strong support from PostNL and gained 0.8% on 835.39 points.

Other European stock exchanges turned green. The German DAX and the French CAC 40 thickened up to 1%.

Negotiations between Democrats and Republicans to agree on a new stimulus package still troubled the mood. Democratic leader Nancy Pelosi and US Treasury Secretary Steve Mnuchin would continue talks on the matter. The package is necessary to be able to continue the economic recovery of recent months. According to Stan Westerterp, asset manager at Bond Capital Partners, it remains a difficult story for both political parties to reach an agreement in the run-up to the US elections. “The Republicans do not want to compromise too much and Democrats are concerned that Trump will make off with the deal.”

Trump, infected by the corona virus, returned from the hospital to the White House on Monday evening (local time). He reported on Twitter that he was not afraid of the virus and promised that a vaccine will be available soon. It is still unclear what Trump’s rapid recovery means for the election battle with Biden, Westerp says. “It is mainly about reaching the floating voters in the US, but it is uncertain whether that group will play a role in voting. Trump can still pull the China card with the threat of tightening trade restrictions. ”

ECB President Christine Lagarde expressed in a digital interview with The Wall Street Journal that she was concerned about the progress of the economic recovery in the eurozone. In addition, Lagarde said that, if necessary, the ECB will be ready with extra monetary stimulus.

According to Cees Smit, trader at Today’s Group, sector rotation will play a role on the Damrak on Tuesday. “The expensive tech funds in particular, including Adyen and ASML, are under pressure and this year’s laggards, such as Shell, are being picked up. This trend is expected to continue in the coming months. In the general stock market climate, the focus is on the American elections. Furthermore, we are waiting for the start of the new earnings season, with most companies likely to be cautious about the forecast in the fourth quarter due to the corona effects. ”

Westerterp takes into account that on the way to the elections in the US there will be little movement in the AEX. “As in previous months, a sideways movement continues. Only when there is clarity about the outcome of the American elections will the way up be clear, given an expected gradual economic recovery, very low interest rates and the low valuations of stocks from the old economy. A risk for investors is that the result of the presidential elections can still be disputed ”

AEX funds that did very well on the stock market this year were at the bottom. IMCD lost 1.8%. Fine chemicals company DSM underwent a min of 2.2%.

Investors had 2.3% less for chip fund ASMI. Payment processor Adyen fell 2.1%, despite a buy recommendation from Credit Suisse.

Investors dived into the biggest laggards of this year. Retail real estate fund Unibail-Rodamco-Westfield posted a profit of 1.9%.

Financial values ​​showed a cheerful picture ABN Amro gained 4.2%. The bank announced at the end of November that it would provide more clarity about the new strategy. After the recent merger in the Spanish banking sector, Smit anticipates that the takeover fantasy among investors will increase for further consolidation in Europe. ING saw the share price pick up 3.3%. Insurer Aegon topped the list of winners, rocketing 5.1%.

Shell was also very popular and rose 3.7% helped by the further rebound in the oil price (Bnrent) to above $ 42 a barrel. Last week, the energy giant landed at its lowest level in about 25 years. Smit calls the price drop in recent weeks ‘excessive’. He points out that the oil and gas concern is taking steps with the transformation to clean energy, such as making electric fueling possible. Westerterp also sees profit in the oil share, which has been pulled down sharply this year on the basis of the dividend yield.

The medium-sized funds shone PostNL from. The stock shot up 11.9% after the postal company raised its forecast for annual profit and its dividend distribution is going to resume. KBC emphasized in a response that the new profit forecast that PostNL has announced for 2020 is higher than expected.

Air France KLM also surfaced. The price of the aviation combination rose 4.5%.

Maritime service provider Boskalis continued the strong march of the last days with a gain of 3.7%. Fugro also joined the front runners with an increase of 4.5%.

Smallcap Elves is making a positive turn with a 1.6% higher share price supported by winning a contract to supply charging stations for electric cars in London.

Lucas Bols slowed down at a minus of 3.2%. On Monday, the beverage manufacturer shot up even more because the company was named as a takeover candidate.

Stock market operator Euronext lost 0.9% on the local market, after being taken off the buy list by KBC.

JDE Peet’s was down 2.1%. Credit Suisse has put the coffee supplier on the sales list.

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