Attention to economic growth and retail sales on Damrak

Photo: ANP

At the Amsterdam stock exchange, attention will be focused on Tuesday, among other things, on the economic growth of the eurozone and American retail sales. Investors are especially curious about the impact of inflation on the economy and sales. High inflation affects the purchasing power of consumers. The quarterly figures of the major American supermarket chains Walmart and Target, which will be released later in the day, may also provide more insight into the spending behavior of American consumers.

German Chancellor Olaf Scholz told television channel RTL that he was “very concerned” about high inflation and the consequences of soaring prices for households. Fuel and food in particular have risen sharply in price due to the war in Ukraine. Scholz said the German parliament will soon agree to a package of emergency measures to help citizens. This concerns, for example, a reduction in fuel tax, one-off payments to families and cheaper public transport.

The AEX index on Beursplein 5 is heading for an opening profit of about 0.7 percent. Stock markets also appear to be opening higher elsewhere in Europe. Major Asian stock markets gained ground on Tuesday. The Nikkei in Tokyo closed 0.4 percent in plus. The Hang Seng index in Hong Kong was a positive outlier with an interim gain of 2.5 percent thanks to solid price gains at the major Chinese tech companies.

On the Damrak, Unilever may move on a change of advice. Analysts at the French bank Société Générale scaled back their recommendation for the food group from buying to selling. Tech investor Prosus may benefit from an advisory increase by US bank JPMorgan.

Engineering firm Arcadis announced that it would advise the Australian government and companies on the transition to electric transport together with the Chinese Shenzhen Bus Group, the largest provider of fully electric public transport in the world. Charging station company Alfen has signed a multi-year agreement with Diebold Nixdorf to maintain the company’s growing charging infrastructure for electric vehicles. The cooperation will start in four countries with the possibility of further expanding throughout Europe in the future.

The euro was worth $1.0447, against $1.0417 a day earlier. A barrel of US oil fell 0.3 percent in price to $113.85. Brent oil cost 0.2 percent less at $113.95 a barrel.

Attention to economic growth and retail sales on Damrak
Source link Attention to economic growth and retail sales on Damrak

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