Shell helps AEX on top | Financial

Shell helps AEX on top | Financial

At half past one, the AEX is 0.2% higher at 759.4 points, after tightening its closing record on Monday. The AMX rises 0.2% to 1060.3 points.

Most other European stock markets are higher. Britain’s FTSE 100, German DAX and France’s CAC 40 are up 0.4%, 0.1% and 0.9% respectively.

In the Asian region, major stock markets showed heavy losses this morning as Chinese state media lashed out at the gaming industry. This could be a prelude to interventions by the authorities, which have already tackled other sectors in recent weeks. Investment strategist Ralph Wessels of ABN Amro points out that Chinese economic growth is coming under pressure on the one hand due to the reversal of the liberalization of the market. “President Biden’s continued Trump policy of bringing production back to the US will also cost growth.”

On Monday, after a hopeful start, the US stock markets ended mostly slightly lower. Index futures do point to some recovery when they open at 3.30am.

Wessels is still positive about the stock markets. “The economic recovery is continuing and we have raised our forecasts for the US and Europe. In addition, the earnings season is very strong and the enormous stimulus measures will be continued for the time being. We do think that bond yields in the US have fallen too far.”

ABN Amro expects the interest on ten-year US government paper to rise from 1.2% to 1.5% at the end of this year. However, Wessels does not think that the stock markets will suffer much from this. “We assume a gradual rise in interest rates. I do expect more volatility in the stock markets from the end of this month and in September and October, but mainly because this is a traditionally volatile period.”

Shell is at the top of the Dutch listed funds with a profit of 1.8%, helped by better-than-expected figures from British peer BP. On Monday, the energy giant was also in demand despite the slump in oil prices, due to reports that there is a lot of interest in its assets in the largest oil field in the US.

data supplier relx adds 1.4%.

Just Eat Takeaway wins 1.2%. The company behind delivery services such as Thuisbezorgd.nl fell a week and a half ago to its lowest level in more than a year. After that, recovery set in, partly due to hopes that communication towards investors and analysts will improve.

Heineken climbed 0.9%, after target price increases by some foreign banks. Investors reacted positively to his data release on Monday.

DSM rises 0.4%. The supplier to the pharmaceutical and food sector increased its annual forecast with the publication of its half-year figures. But ING points out that analysts were already counting on this and that the food division disappointed somewhat in the first half. Degroof Petercam even sees reason to lower the holding advice, because the investment bank sees little upside potential after the strong price increase in recent months.

prosus is at the bottom with a loss of 6%. Tencent, a major player in the gaming sector in which the tech investor has a large stake, was down 6% this morning.

Chip machine maker ASML fell 1.2%, possibly in response to the disappointing quarterly report from German chipmaker Infineon. NXP’s figures also made little impression.

In the medium-sized funds, SBM Offshore led by a plus of 3.3%, after signing a letter of intent with Brazilian oil company Petrobras to operate a production and storage vessel for 22.5 years.

Fertilizer producer OCIA is at the bottom with a minus of 4%.

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Shell helps AEX on top | Financial
Source link Shell helps AEX on top | Financial

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