Just Eat Takeaway shoots up on Damrak after deal with Amazon

Just Eat Takeaway made a price jump of more than 13 percent on the Amsterdam stock exchange on Wednesday. Investors were delighted with the cooperation deal that the meal delivery company in the United States has concluded with online store group Amazon. So-called Prime members of Amazon receive an annual subscription to meal delivery Grubhub, the American subsidiary of Just Eat Takeaway.

Amazon takes a 2 percent stake in Grubhub. In the long run, this interest can rise to 15 percent. Just Eat Takeaway, which also owns, also reiterated that it will continue to actively look into a partial or full sale of Grubhub. Critical shareholders have been pushing for a sale of the part for some time.

The AEX index on Beursplein 5 was 1.6 percent higher in morning trade at 654.64 points. The MidKap gained 0.5 percent to 881.66 points. The stock exchanges in London and Paris rose to 1.5 percent. Frankfurt’s DAX climbed 1.3 percent after an unexpected surge in German factory orders in May.

Adyen climbed more than 3 percent. The fintech company will provide payment services for the Japanese clothing chain Uniqlo. The chip companies ASMI and Besi rose to 1.7 percent. ASML won 2.2 percent despite reports that the US government wants the chip machine maker to stop supplying its older generations of machines to Chinese companies. The US is putting pressure on the Netherlands to extend the export ban, which currently only applies to the latest generation of chip machines.

Unilever climbed 1.2 percent. Ice cream brand Ben & Jerry’s has sued its parent company over the sale of its Israeli branch by the food company. Ben & Jerry’s claims its brand integrity is being compromised by the sale and wants it to be discontinued.

Oil and gas group Shell announced that it will build Europe’s largest green hydrogen factory in Rotterdam. The stock gained 1.1 percent. AkzoNobel rose 0.8 percent. The paint concern has taken over a factory of the German Lankwitzer Lackfabrik. Industrial supplier Aalberts (minus 0.3 percent) was struggling with an advice reduction by ABN AMRO Oddo BHF. Berenberg also lowered the price target for Aalberts.

The euro stalled at its lowest level in more than twenty years. The single currency was worth $1,0256, compared to $1.0245 a day earlier. Oil prices rebounded after falling around 9 percent on Tuesday. A barrel of US oil cost 1.5 percent more at USD 101.02 and Brent oil became 1.9 percent more expensive at USD 104.69 per barrel.

Just Eat Takeaway shoots up on Damrak after deal with Amazon
Source link Just Eat Takeaway shoots up on Damrak after deal with Amazon

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