ING top spot on strong stock market | Financial

ING top spot on strong stock market | Financial
ING top spot on strong stock market | Financial

At two o’clock the AEX was 1.5% higher at 541.7 points. The stock market indicator showed a nice recovery after a few weak stock market weeks.

The AMX rose 1.6% to 788.9 points. There was also a cheerful mood on the other European stock exchanges. The UK FTSE 100, German DAX and French CAC 40 climbed 1.1%, 1.7% and 1.8% respectively.

Index futures pointed out that the US stock markets will open 1.1% to 1.6% higher at half past three.

Investment advisor Rein Schutte of Noesis Capital Management sees no concrete reason for the nice profits. “It does help that the purchasing managers index from China on production was not that bad. On the other hand, England, among others, announced new lockdowns. Incidentally, just like last week’s decline, the stock market recovery is accompanied by low turnover. ”

Schutte is especially looking forward to the American elections, the first results of which are expected to be released on Wednesday morning. “Although the national polls indicate a clear victory for Biden, I wouldn’t be surprised if does win. The most important thing is that the winner quickly comes up with a support package and then it helps that the Senate also comes into the hands of his party. ”

In the AEX, ING led the way with a plus of 4.1%. Royal Dutch Shell continued the solid recovery following the publication of the better-than-expected quarterly report on Thursday with a profit of 2.3%.

Supermarket group Ahold Delhaize and meal delivery company Just Eat Takeaway won 2.9%. Prosus climbed 2.7%, after a target increase to € 120 by Deutsche Bank. The tech investor reported last week that it was going to buy back its own shares.

Unibail-Rodamco-Westfield was the largest decrease with a minus of 2.7%. The retail real estate fund warned that the new measures being taken to prevent the spread of the coronavirus could hit results in the fourth quarter. The group saw things go better in the third quarter, because corona restrictions were eased in many countries.

Biotechnology company Galapagos fell 1.4%.

In the AMX went biotechnology business Pharming with a plus of 7.5% in the lead, probably thanks to takeover speculation in response to the bid for industry peer Kiadis.

Air France KLM won 5.8%. Investors apparently assume that KLM will still receive the full € 3.4 billion in support from the Dutch government. Over the weekend, not all unions agreed to longer periods of wage restraint.

Corbion rose 5.6%, after the publication of better-than-expected quarterly figures. The specialty chemicals company maintained its expectations for the whole of this year.

PostNL lost 3.1%, because the quarterly figures were less strong than expected. With the important holiday period just around the corner, the mail and parcel deliverer will take 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. However, investors had expected more from the quarterly results.

Shot at the local market Kiadis Pharma 246% up to € 5.07. The French pharmaceutical company Sanofi wants to acquire the biotechnology company for € 5.45 per share. The board of Kiadis supports the offer.

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