The AEX is 0.4% higher at 736.5 points. It continues the winning streak. The Amsterdam main index closed on Wednesday with a 1.6% increase. The AMX records 1% gain at 1039.8 points.
In the Netherlands, consumer spending in May in May, with a growth of 8.8%, compared to a year earlier, appears to lag behind the increase in April (+9.7%).
Worries about Brexit continue. The United Kingdom withdraws agreements on the Northern Ireland border. The UK’s FTSE 100 underperformed European markets by 0.6%. The German DAX gains 0.7%, the French CAC 40 strengthens 0.4%.
Asia wins, New York positive
Stock markets closed higher in Asia. Japan’s Nikkei, which gained 0.6% yesterday, is closed.
The Chinese Ministry of Commerce warned that its international transactions are cooling this fall. The causes are the price increases of raw materials. Car sales will remain strong, the ministry said.
Market analysts further pointed to some signs of stabilization in the delta variant of the coronavirus on Thursday. In India, the number of infections and deaths caused by corona has fallen. But in Indonesia, regions have gone into lockdown.
In the chip sector, manufacturers are also responding to news from China from Apple supplier Foxconn that the production line survived the flooding in the Zhengzhou region without disruptions.
In New York, stock markets are set to open slightly higher at 3:30 PM. The Dow Jones gained 0.8% on Wednesday. The Nasdaq gained momentum after Texas Instruments’ better-than-expected quarterly results.
Inflation worries muted
The ECB is expected to leave key rates unchanged this afternoon. Analysts, but investors are especially curious about what the recently announced strategy change means for the monetary policy of the ECB.
Earlier this month, the central bank changed its inflation target from just under 2 percent to 2 percent. The question now is whether the change will make the ECB more inclined to keep interest rates low and buy bonds to boost inflation. ECB President Christine Lagarde recently promised that the meeting will produce “some interesting variations and changes” in policy.
The concerns about inflation that have been lingering for weeks remain limited today. The yield on the US 10-year Treasury bond is higher at 1.292%. The yield for 10-year Italian government debt has actually fallen to 0.691%. The German bund is up 2 basis points at -0.392%.
The euro is trading slightly lower at $1.1796. The dollar fell from a three-month high on Wednesday as investors took more risk in stocks.
Crypto bitcoin rose over 7% to $31,976. Tesla CEO Elon Musk confirmed during a podcast that he owns cryptocurrencies such as bitcoin, ether and dogecoin. The energy consumption for the mine Moreover, almost half of coins would now run on ‘green’ electricity.
Chip suppliers benefit
At the top of the AEX is chip machine maker ASML at 3% profit. It received a significant price target increase from KBC, from €580 to €640 with an unchanged advice to keep the Veldhoven giant.
Chip supplier besi gains 1.8% and semiconductor ASMI is 1.8% higher.
Payment processor up 1.7%, insurer Aegon plus 1.5%.
retail property fund Unibal-Rodamco-Westfield plus 1%. The stock was the best on Wednesday with a 4.4% increase.
At the bottom of the AEX is displayed Unilever (-3.8%). Ice cream sales rose last quarter as the group prepares to sell or IPO of its divisional tea division, it reported this morning. The quarterly results of the laundry and food group disappointed investors – unlike analysts at ING who turned positive. ING does not think the margin will increase this year compared to 2020.
Defensive Stocks Heineken, Ahold Delhaize and DSM are sold at a loss of up to 0.4%.
At the medium-sized funds shines Aalberts with a 4.4% profit on well-received quarterly results. Air France KLM wins 2.1%. Corbion and Basic-Fit remain strong with 1.9% and 1.4% price increases respectively. The fitness chain is in the spotlight. On Friday, news about the expansion of the group is expected with its half-year figures.
Food chain sligro (+2.4%) reports seeing bright spots after a sharp drop in turnover last quarter. According to ING analyst Hans D’Haese, the numbers are strong. “The market needs to raise expectations for the whole of 2021,” he predicts.
On Wednesday after trading hours, the Icelandic Marel (-1%), producer of machinery for processing fish, meat and poultry, quarterly figures with 7.1% annual growth, and 24% more profit to €23.3 million.
Nut, tea and seed supplier arrives after fair acomo with quarterly results, the stock remained flat.
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Tech shares push AEX to 737 points | Financial
Source link Tech shares push AEX to 737 points | Financial