Around 12.10 the AEX index was 0.1% higher at 554.9 points. The AMX fell 0.1% to 808.5 points. The price signs in London (+ 0.3%), Paris (+ 0.2%) and Frankfurt (+ 0.1%) turned green.
Investors hold their breath because of the uncertain outcome of the US presidential election. Both President Donald Trump and his Democratic challenger Joe Biden initially indicated that they would win. Trump even claimed a big lead over Biden via Twitter, “but they are trying to STEAL the election. We will never allow that ”.
That ruling and Trump’s announced going to the Supreme Court immediately led to uncertainty on the stock market. “The trade immediately became jumpy, although volumes were not yet very large. Many large parties in the market were waiting to see what the outcome would be ”, said investment advisor Rein Schutte (Noesis Capital)
However, after the state of Wisconsin appeared to move to Biden in the morning, sentiment turned. “Subsequently, the futures rose,” said Schutte.
For investors, the uncertain election outcome in the US is the worst scenario they had anticipated. “But the stock markets in Europe are still good today. The markets are relatively calm while this could take days. It is not yet a race in Wisconsin, ”emphasized asset manager Renco van Schie (Valuedge).
What is clear is that the Republicans are holding out in Congress in Washington, which means that the enormous stimulus package from the Democrats will almost certainly not come. “The US central bank will have to provide even more support to mitigate the effects of corona,” noted Van Schie.
The American stock markets are expected to open divided this afternoon. A 0.2% lower opening is foreseen for the Dow Jones index. Technology fair Nasdaq is about 2.1% higher from the starting blocks. The divided Congress has increased the chance that tech giants like Google, Facebook and Amazon will not be split up.
Galapagos wins, Aegon loses
In the AEX went biotech fund Galapagos with 3.3% profit in the lead. Information provider Wolters Kluwer won 2.7%. Payment service provider Adyen (+ 2.1%) and food delivery company Just Eat Takeaway (+ 2.1%) were also on the rise.
Financial institutions lost a lot after they had made good profits in the past two days. Falling interest rates in the US were not good news for them. Aegon lost 5.4%, ING fell 1.5% and ABN Amro lost 1.4%.
Schutte: “The initiated rotation from tech stocks, which did well recently, to value stocks, has come to a halt for a while. Then the financials will be reset in response. ”
Ahold Delhaize (-2.8%) after the publication of the third-quarter results, the earnings per share forecast for the whole of 2020 increased. CEO Frans Muller announced a share buyback program of € 1 billion.
In the AMX went Aperam (+ 3.6%) in the lead. The stainless steel producer reported that earnings will grow in the current quarter. ING analyst Stijn Demeester praises the better cash flow and debt reduction at Aperam. He points to higher production volumes in Europe – despite price pressure here – and the resilient Brazilian market. Cash flow and debt position were also slightly better than expected, according to ING.
Corbion (-2.5%) was the largest drop in medium-sized funds. Berenberg’s analysts lowered their investment advice for the specialty chemicals company to ‘hold’.
Smallcapfonds Elves became worth 1.9% more. The charging station company achieved a turnover of € 49.9 million in the third quarter and confirmed its turnover forecast for the whole of 2020. Alfen expects a turnover of between € 180 million and € 200 million.
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