With a rippling course, the AEX index ended 0.2% higher at 559.57 points after having risen above 561 points earlier in the afternoon. The AMX thickness 0.1% at 788.18 points.
Willingness to buy was fueled in the afternoon after the better than expected US jobs report. In the past month, 1.8 million jobs were added, against a plus of 1.5 million previously expected. In addition, unemployment fell to 10.2% of the labor force. According to Jeroen Blokland, strategist at Robeco, it was a boost for investors that the trend in the US labor market is still going in the right direction. However, he points out that there is still a lot of uncertainty about how hard the unemployment rate in the US will fall after so many jobs were lost in the outbreak of the corona crisis. “Some sectors will recover considerably, but others will have permanent damage.”
Furthermore, it is still awaiting the outcome of the negotiations between the Democrats and Republicans about the launch of new corona aid, the deadline of which ends today. Blokbland emphasizes that the Republicans want to provide the new support mainly through the labor market, while the Democrats are more aware of the people who have ended up on the street. “Despite the strife, it is almost certain that there is something to come in view of the upcoming elections.”
US President Donald Trump stepped up tensions with China a little further by signing a presidential decree banning US corporate transactions with ByteDance, the Chinese company behind TikTok, and Tencent, the owner of WeChat, in 45 days. Trump fears that the companies will pass on information about American citizens to the Chinese government via the popular apps.
“Trump’s action was in line with expectations. There is an increasing dichotomy in technology between the US on the one hand and China on the other, ”said asset manager Renco van Schie (Valuedge). “Tech stocks have also performed well in China in recent months. It makes sense you saw some profit taking there today. But it doesn’t mean much to Chinese tech companies, because the market in Asia is big enough for them, ”says Van Schie.
Blokland takes into account that the American elections will have an increasing impact on the stock market climate in the coming months. “We have already seen in the past that volatility increases in the run-up thereafter. In view of Trump’s backlog, we also have to wait and see with which rabbit he will come out of the hat. ”
Prosus loses, Adyen beams
In the AEX went stock market heavyweight Prosus down with a bloodletting of 4%. The originally South African tech investor is a major shareholder of Tencent, which suffered considerable damage on the stock market due to President Trump’s attack on subsidiary WeChat.
Galapagos gained 1.8% after being lower for a long time. The biotech fund has more than doubled its turnover in the past six months. This was mainly due to payments from the American partner Gilead. As a result, the Dutch-Belgian biotechnology company was also able to spend more money on research and development and preparation for the marketing of rheumatism filgotinib in Europe. This did lead to a larger net loss of € 166 million.
Steelmaker ArcelorMittal was in the rear and went down 2.7%. Royal Dutch Shell yielded 1.7%.
Betalingsverwerker Adyen plus 1.2%. Earlier in the day, the share peaked above the € 1,500 mark. ASML also did good business following the optimism among US tech funds and rose 1.9%. Industry colleague ASMI became worth 1.6% more.
NN Group took the lead. The insurer’s share price rose 2.5%.
In de AMX zat Corbion nice on the rise with a plus of 1.5%. The specialty chemicals company raised its full-year earnings forecast. The company, which supplies products to the food industry, claims to be able to achieve good margins despite the challenges of the corona crisis.
Aviation concern Air France KLM lost 0.3% after the strong recovery earlier this week. Engineering firm Arcadis ultimately lost 0.2%.
Offer launched for NIBC
At the small cap funds NIBC 0.3% higher at € 7.33. The takeover bid for The Hague investment bank by the American investor Blackstone has officially been launched. The total price tag that Blackstone has attached to NIBC through the Flora Acquisition vehicle is more than € 1 billion, or € 7.53 per share. Initially Blackstone offered € 9.85, but that offer was lowered during the corona crisis.