Sunny AEX with hope for a big victory for Biden | Financial

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The AEX index continued to improve and ended 1.9% higher at 554.48 points. The AMX climbed 2.2% to 809.13 points.

The other European stock markets also continued the strong recovery that started on Monday. The British FTSE 100, the German DAX and the French CAC 40 gained up to 2.2%.

Investors on the Damrak were confident that a result will come out soon with a clear winner in the race for the White House. Democratic candidate Joe Biden seems to have the best chance because of his lead in the national polls.

“Disappointment lurking”

According to Philip Marey, an economist at Rabobank, disappointment is lurking because there is still great uncertainty about the outcome of the US presidential election. He points out that it is also very important for Biden in a victory that he gets a majority in Congress. “Otherwise, Biden will be paralyzed for the next two years and the question is whether there will be a deal soon on new corona support. The difference with the Republicans about the size of the package is still very large. Next Friday’s American jobs report could provide more clarity about the current state of the economy. ”

Furthermore, the American interest rate decision is still on the agenda this week. Marey assumes that the Federal Reserve will remain on its hands for the time being. “There is no need for the Fed to act. Fed Chairman Powell will especially emphasize the importance of fiscal stimulus in the explanation. ”

The sharp rebound in prices largely reversed the downturn at the end of last month. Marey anticipates that the stock market climate will remain in the grip of the American elections. “If there is no clear outcome in the battle between Trump and Biden, a period of risk-off On. It could then possibly take weeks or even longer before a new president is known because Trump will certainly contest the result. ”

Aegon tops

In the AEX ING count on considerable buyer’s interest and went 4,5% moving forward with the support of the increased risk appetite of investors to join the lagging banking group. ABN Amro thickness 3.9%.

Insurer Aegon held the lead with a plus of 6.5%. Industry colleague NN Group became worth 4.2% more.

Galapagos was also on the rise, winning 4.7% after news that the European Medicines Agency’s biotech company may apply for an authorization for its filgotinib drug for the treatment of chronic inflammation of the intestines.

Shell continued its advance, climbing another 1.5%, after being put on the buy list by the American bank Morgan Stanley. Since the figures were published last Thursday, the energy giant has been on a strong recovery.

Specialty chemical company DSM gained 2.4%, after the publication of better-than-expected quarterly figures.

Meal delivery company Just Eat Takeaway belonged to the scarce descenders with a minus of 1.1%. Bottom of the league Prosus faced a loss of 3.2%.

The medium-sized funds jumped Basic-Fit 6.9% up. Investors are relieved that the cabinet is not going to temporarily close gyms again. Soil researcher Fugro, which comes with a share issue in December, made a progress of 2.9%.

Air France KLM boomed 6.2% as the door was opened to receiving the full € 3.4 billion support package for KLM, now that the pilots have turned to the five-year pay sacrifice.

PostNL that a Monday was already hit after the figures, fell another 2.6%.

The manufacturer of electromagnetic components included in the AScX index Kendrion slipped by 2% as sales in the third quarter fell more than expected.

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In de podcast Matter of CentsWho better to pull the US economy out of the doldrums: President Trump or his challenger Joe Biden?

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