The AEX closed 0.1% higher at 534.4 points, after having dived well below 530 points earlier in the afternoon. The AMX rose 0.1% to 771.3 points.
The other European stock markets hardly recovered from the heavy losses on Wednesday. The British FTSE-100 and the French CAC 40 closed almost unchanged. The German DAX gained 0.3%
When the European stock markets closed, the Dow Jones index was 0.2% and the Nasdaq index 1.3% higher, which partly offset the losses of 3.4% to 3.7% on Wednesday.
Investors responded positively to the announcement by President Christine Lagarde of the European Central Bank that policymakers agree that action is necessary. “This means that an extension of the bond buy-back program will most likely be announced in December. I do not expect an interest rate cut and I do not think it is desirable. Lagarde also called for speeding up the European recovery fund. This is necessary, especially since the unexpectedly fast second corona wave and the lockdowns as a result are causing great economic uncertainty, ”reports JP Morgan investment strategist Vincent Juvyns.
Bond specialist Konstantin Veit of Pimco is also counting on an expansion of the buy-back program in December. “An additional € 600 billion in purchases with a six-month extension seems reasonable. We are also looking forward to additional TLTRO (long-term refinancing transactions with attractive conditions for banks, ed.) After March. ”
The corona pandemic is not the only reason why Juvyns believes that stock markets will remain very volatile for the time being. “Brexit is a risk. And while Biden looks set to win big in the US election next week, it remains exciting. A possible recount would create uncertainty. And if the Senate comes into the hands of a party other than the presidency, it will remain difficult to reach an agreement on a new support program. ”
After recent pushers from leading technology companies SAP, Intel and Microsoft, it is also very important to sentiment that Alphabet (Google), Amazon, Apple and Facebook come out with good figures tonight. Stan Westerterp, asset manager at Bond Capital, is primarily curious about Apple’s services, such as Apple Pay and Apple Music. “In the years to come, recurring revenues may make services the growth engine.”
In the AEX ended ASMI took the lead with a profit of 6.5%. The chip supplier published a better-than-expected forecast for the fourth quarter with good quarterly figures. Industry colleague ASML 2.8% was pulled up.
Shell gained 4.1%, despite the continued sharp drop in oil prices due to the dreaded consequences of the new lockdowns. The better-than-expected return to profitability and the intended increase in the dividend sounded music to investors. Rein Schutte, investment adviser at Noesis Capital Management, emphasizes that the energy giant has allayed some concerns with its performance, partly in view of the cash flow. He points out that it is mainly a question of waiting for the strategy update early next year.
Meal delivery company Just Eat Takeaway rose 0.5%, after falling clearly from a record level in the past week and a half. Investors club VEB announced earlier this week that it was in favor of maintaining the listing in Amsterdam.
Biotechnology company Galapagos was at the bottom with a loss of 2.7%.
Adyen was down 2.1% after a cautious forecast from the digital payment processor.
Adjusted for the ex-dividend, the food and detergent producer supplied Unilever 0,5% in.
Shot at the medium-sized funds Arcadis 6.4% up. The stable order book and the maintenance of margins at the consultancy firm stimulated the desire to buy considerably.
WDP climbed 3.1%, possibly based on the expectation that the logistics service provider will benefit from the new lockdowns.
Basic-Fit followed with a plus of 2.9%.
Fugro fell 2.5%. The soil researcher had made a nice bounce over the past week and a half, after the announcement of a share issue and the phasing-out of his protective structure.
Pharming slipped 2.3%. Corrected for the currency headwind, the biotechnology company released solid quarterly figures and wants a second listing on the American tech exchange Nasdaq.
AScX fund Van Lanschot Kempen closed 0.3% lower. The good stock exchange climate supported the bank’s results for wealthy individuals.
AMG fell 2.9%. The metals specialist suffered a lot from the corona crisis last quarter. Especially in the aerospace industry there were dramatically lower volumes. According to the company, the low point is behind us.
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