KLM and PostNL down on green exchange | Financial

KLM and PostNL down on green exchange | Financial
KLM and PostNL down on green exchange | Financial

Around 9.30 am the AEX index was 0.4% higher at 536.2 points. The AMX rose 0.3% to 778.6 points. The stock markets in London (-0.2%), Paris (+ 0.03%) and Frankfurt (+ 0.2%) remained close to Friday’s closing positions.

Elsewhere, the stock markets showed a mixed picture. The Japanese Nikkei index closed 1.4% higher this morning thanks to better-than-expected corporate results. However, the US stock markets ended 0.6% to 2.5% lower on Friday evening. The tech funds Apple (-5.6%), Amazon (-5.5%), (-6.3%) and Twitter (-21%) had a hard time as their quarterly results fell short of their high expectations . Wall Street is expected to open more than 0.1% higher this afternoon.

In the fight against the corona virus, England is largely locked for the second time. The new lockdown starts on Thursday and lasts until December 2. The Austrian government also announced a series of restrictions to turn the tide. Large parts of Portugal will also be partly locked again.

Payment service provider in the AEX Adyen (+ 1.4%) the winners. Tech investor Prosus won 1,3%.

Biotechnology company Galapagos (-2.2%) was the largest drop among the main funds. Telecom concern KPN fell 2%.

Unibail-Rodamco-Westfield (-1.9%) warned in a trade report that the new measures being taken to prevent the spread of the coronavirus could affect the performance and results of the retail property fund in the fourth quarter. The group saw things go better in the third quarter, because corona restrictions were eased in many countries.

PostNL plummeted 6.3% in the AMX. The mail and parcel deliverer also posted higher turnover in the third quarter. The growth was mainly driven by the parcel division, which continues to benefit from the corona crisis. With the important holiday period approaching, the company is already taking the necessary measures to cope with the crowds in the future. According to top woman Herna Verhagen, PostNL will again pay out dividend at the end of this year. Investors had expected more from PostNL’s quarterly results.

Air France-KLM decreased 3.6%. Airline KLM did not succeed last weekend in getting promises from all unions that they would agree to longer periods of wage restraint. These commitments are necessary to receive the second part of the support package from the Dutch government.

Specialty chemical company Corbion (+ 2.7%) achieved a slightly higher turnover in the first nine months of 2020, with a stronger increase in the operating result. According to the group, the influence of the corona crisis on the company decreased in the past quarter, after a volatile first half year. Corbion maintains its expectations for the whole of this year.

Shot at the local market Kiadis Pharma 239% up to € 4.96. Sanofi wants to acquire the biotechnology company for € 308 million. The board of Kiadis supports the offer of the French pharmaceutical company, which amounts to € 5.45 per share. Funds that already own just over 18% of Kiadis have also committed to offer their securities.

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