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Tech pressure keeps AEX profits in check; banks sought after | Financial

The AEX is in the plus at 666 points around a quarter past twelve. The AMX records a 0.3% gain on 992.8 points.

Stock markets elsewhere in Europe are more optimistic: the FTSE 100 leads with a 1.1% increase, the German DAX grows 0.9% and the French CAC-40 gains 0.8%.

Optimism New York

Federal Reserve executive Brainard tempered concerns. She said US central banks do not intend to cut back on economic support anytime soon. Brainard sees an improving US economy, and also states that he is “closely monitoring developments in the bond markets”.

“Interest story continues to play”

According to Jos Versteeg, analyst at InsingerGilissen, the interest story will remain hanging above the market for the time being. However, he points out that fears that the Federal Reserve will soon have to pull the brakes is still far from being an issue, as rising inflation is expected to remain contained. Continuing trends, such as technology and the aging population, play a role in this. ”

Versteeg takes into account that stock market volatility is not over yet. “Calm must first return to the bond markets. In addition, there is reason to be a little more cautious about chip funds after the long run up, although we are still positive about the sector for the long term. ”

This week, the focus is further on the meeting of OPEC members scheduled for tomorrow. “There is a good chance that in view of the strong recovery in the oil price in recent weeks, production in countries united in OPEC will be increased again. That will put pressure on the oil market. ”

Vaccinations

More vaccination news came through. There are now 114.7 million corona infections according to the Johns Hopkins CSSE Institute. In the Netherlands, anyone could have had a vaccine in June, says Minister De Jonge (Public Health).

In the US, President Biden reports that a vaccine will be available for all adult Americans at the end of May. According to European Commissioner Thierry Breton, the European Union will increase the production capacity of corona vaccines to three billion doses per year by the end of 2021.

Prosus in demand

Listed with the main funds did Prosus good business with 2.7% profit, helped by the considerably higher price at the Chinese internet giant Tencent, in which the techinester has a major interest. Versteeg emphasizes that in addition to the optimism about the Tencent participation, Prosus is also making good progress with meal delivery in emerging countries, such as India and Russia. Steelmaker ArcelorMittal wins 2.2%.

Financials are also at the forefront. Leader ING rate 3.1% higher. NN Group thickens 2.2%. Broadcaster Randstad is also popular and springs more than 2%.

Biotech fund runs at the bottom Galapagos against a loss of 1.6%. Chip funds also show a printed image. ASMI lost 2%. ASML is down 0.4%.

Adyen is also inferior. The price of the online payment processor drops 1.6%.

Among the medium-sized funds, the leading position is reserved for Arcadis with a plus of 1.8%.

Pharming that shows quarterly after-market results, eliminates the loss and adds 1.6%.

Construction company BAM (+ 3.9%) leads the small caps for metals supplier AMG (+ 3.2%).

At a charging station maker Fastned (-1.1 on € 70.2%) Berenberg has increased the price target from € 80 to € 91 with a repeated buy advice. Thanks to the latest share issue, Fastned can accelerate its growth, says Berenberg.

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Tech pressure keeps AEX profits in check; banks sought after | Financial
Source link Tech pressure keeps AEX profits in check; banks sought after | Financial

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