Home Business Stock markets: Prosus tastes to investors, profit for AEX despite Shell dip

Stock markets: Prosus tastes to investors, profit for AEX despite Shell dip

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The AEX in Amsterdam is 0.3% higher on Friday. Stocks Prosus, Adyen, UMG and strikingly again Just Eat Takeaway are doing well. Shell is the most sold. Investors react to US President Joe Biden’s statements that a recession is “not inevitable” for the world’s largest economy. Wall Street opening futures are in the plus.

The AEX reached the 640 point mark at 10 a.m. The Midcap gains 1.1%, the smallcap takes 0.3%.

Elsewhere in Europe, the DAX is up 0.4%, with Deutsche Post gaining 0.9%, the CAC 50 is up 0.7%, the UK’s FTSE is 0.3% in the green.

Tech Investment Fund prosus is 2% higher, Just Eat follows in the same step at the top of the AEX. ING also reports at 1.1% price gain at the top,

shell goes back 2.7% in the basement, for ArcelorMittal and Aegon which revolve around 1% loss.

In the Midkap goes Air France KLM 3.4% up. Sector partner Qatar Airlines saw net profit in the financial year rise to 5.6 billion Qatari riyals, converted €1.5 billion. Never before in its 25-year history has the airline company’s profits been so high.

In Amsterdam responds AkzoNobel negative (-0.7%) on a price target cut by Jefferies from €84 to €77, the ‘hold’ advice still holds.

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small cap fund TomTom (+2%) sees that Teslin Participaties has increased its stake in the navigation company.

CM.Com gets 3% more, real estate fund WDP strengthens 2.5%, fastned goes up 2.1%.

Higher start Dow

The futures for US stock exchanges are now clearly in the plus, gaining 0.8% before the S&P 500 opens this afternoon.

The effective interest payment for the 10-year US Treasury bond falls 4 basis points to 3.262%. Its German counterpart, the bund is up fractionally at 1.699%. Dutch government debt of that duration is higher at 2.078% interest.

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“That interest rates are finally going up after a period of absurdly low levels, often negative, is normal and actually a blessing. It does mean that there is no room for fantasy investments,” said ING’s market strategist Simon Wiersma. Valuations of all asset classes are under pressure, bond prices, which move in the opposite direction to the development of interest rates, but also equities. “That this is happening is not surprising in itself, but the pace has surprised almost everyone,” said Wiersma.

In the foreign exchange market, the euros 0.4% to $1.0505.

The European gas price with a small cooling still stands at $120 per terawatt hour. However, the storage is filling up at a good pace, according to Warren Patterson, head of raw materials at ING.

The oil price drops slightly: Brent is 0.2% cheaper at $119 a barrel. Gold and silver are slightly declining.

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