Damrak optimistic, buyers get the upper hand | Financial

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Around 3 pm the AEX index was 0.2% higher at 549.3 points. The AMX rose 0.7% to 806.7 points, small cap index AScX gained 1.1%.

The price signs in London (+ 0.1%), Paris (-0.1%) and Frankfurt (-0.2%) showed mixed mood.

Chinese industrial and service activity figures in September provided support. Figures from market researchers Caixin and Markit also showed that the Chinese industry has continued to grow this month.

The Dow Jones index rose 0.8%, the S & P500 by 0.5% and tech exchange Nasdaq made 0.3% gains.

The ADP jobs figure turned out better than expected. In addition, the long-awaited aid package in Washington emerged.

Treasury Secretary Mnuchin said he could reach an agreement with Democrats on a large bailout package, in addition to all the support from the Federal Reserve.

‘Biden light for’

The first election debate between US President Donald Trump and his Democratic challenger Joe Biden was unprecedented and chaotic. Trump not only ran into hard work with Biden, but also with debate leader Chris Wallace because of his many interruptions.

Biden emerged slightly better from the fierce battle, concludes economist Corne van Zeijl (Actiam), looking at sites that kept guessing the results. Contrary to expectations, Biden was not wiped out as a weak candidate. Trump could make his point less often. Of course it is only the beginning, ”he says.

“The debate has not led to major movements in the financial markets,” trader Frank Bonsee of ABN Amro oversees the trading screens.

Volumes remained low. “Investors are looking for new impulses. The optimism in recent days is maintained after last week’s decline, and that despite new measures to curb corona, ”says Bonsee of ABN Amro.

“We are in the third quarter with many companies that performed well in line with what analysts expected, and sometimes did better. It is all a bit more positive towards the presentation of quarterly results, ”said the trader.

The oil price remained an important indicator. After a 5% drop yesterday, Brent dropped fractionally to $ 41 a barrel.

The euro is trading 0.3% lower at $ 1.17130.

In the AEX was DSM the largest riser with a plus of 4.6%. The specialty chemicals group announced it would sell a large portion of its materials business to Covestro for € 1.6 billion.

Royal Dutch Shell had to 0.2% write off. The British-Dutch oil and gas concern announced this morning that it would cut between 7,000 and 9,000 jobs. The intervention should lead to cost savings of $ 2 billion to $ 2.5 billion by 2022. Industry colleague ConocoPhilips later warned of sharply lower volumes.

Financials ABN Amro (+ 2,2%), Aegon (+ 2,1%), ASR (+ 1,4%)

Heavyweight Unilever propelled by 0.4%.

Tech investor Prosus (+ 1.1%) also supported the AEX.

Payment service provider Adyen (-1.4%) was the biggest loser among the main funds. It received an advisory cut from buy to neutral from Bank of America.

Steelmaker ArcelorMittal lost 1.8%.

Unibail rose 3%, after the 5.4% tick on Tuesday.

In the AMX saw BAM the profit fell from 5.5% to 2.2%. The construction group is almost certainly going to cut more than a thousand jobs. The builder expects the reorganization program to generate cost savings of € 100 million per year. According to the builder, the intervention is necessary because of the corona crisis and the disappointing results in the first half year.

Corbion (+ 0.9%) said it had issued $ 170 million in debt to five institutional investors. The proceeds are used to repay loans and for general corporate purposes.

Pharmacist chair supplier Fagron (-1.6%) was the biggest laggard among medium-sized funds. Chip supplier Iron left 1.2%.

Real estate funds Eurocommercial Properties in Wereldhave were driven by more than 6% higher sentiment.

Smallcapfonds Ajax (-3.4%) came on Tuesday after the closing bell with results. The listed football club made a profit of € 20.7 million last season. That was a lot less than a year earlier, when the club achieved almost € 52 million profit, partly thanks to the good results in the Champions League.

It’s noted locally Kiadis Pharma (-4.8%) opened the books. The biotechnology company suffered a smaller loss in the first half of the year than a year ago, helped by lower operational costs. Kiadis’ cash position stood at € 19.8 million at the end of June.

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