Attention to quarterly figures Aegon and inflation concerns on Damrak

At the Damrak, the attention of investors on Thursday will be focused on the figures of Aegon. The insurer saw its net result rise thanks to a substantial book profit on the sale of its units in Hungary. While its quarterly earnings continued to be negatively impacted by death claims in the United States due to the coronavirus, Aegon is seeing that impact fade and is on track to meet its financial targets.

In addition, the markets are still chewing on the higher-than-expected US inflation figure, which put price pressure on Wall Street on Wednesday. The continued strong rise in consumer prices has resurfaced fears that the Federal Reserve will raise interest rates more aggressively in the coming months.

Based on the opening indicators, the AEX index on Beursplein 5 seems to start about 2 percent lower. The other European stock markets are also expected to open with losses. Major stock markets in Asia fell on Thursday. In Tokyo, the Nikkei lost 1.8 percent and the Hang Seng index in Hong Kong lost more than 2 percent in the meantime.

In addition to Aegon, Pharming, SBM Offshore, OCI and Sif also opened the books. The shares of Philips and DSM will be quoted ex-dividend on Thursday, which means that a share no longer entitles the holder to the dividend for the previous period. This usually creates price pressure.

OCI benefited last quarter from strong demand and increased fertilizer prices due to the war in Ukraine. The company doubled sales and saw net profit quadruple. The company is also positive for the rest of the year. Maritime service provider SBM Offshore saw its quarterly turnover rise sharply and maintained its expectations for this year.

Biotechnologist Pharming recorded slightly more turnover in the first quarter, but saw profits halve due to higher costs. The builder of windmill foundations Sif said he saw a higher demand for offshore wind energy due to the war in Ukraine and the desire of countries to move away from Russian fossil fuels.

Ajax is also in the spotlight. The listed football club has become champion of the Netherlands for the 36th time. Outside the Damrak, the German industrial group Siemens came up with results. The company saw its net profit halve due to a financial blow of about 600 million euros due to Western sanctions against Russia.

The euro was worth $1,0500, against $1.0554 a day earlier. A barrel of US oil cost 1.1 percent less at $104.54. Brent oil fell 1 percent at $106.47 a barrel.

Attention to quarterly figures Aegon and inflation concerns on Damrak
Source link Attention to quarterly figures Aegon and inflation concerns on Damrak

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