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Chip money pushes AEX to a new record high

Chip companies led AEX to a new record high on Tuesday. Besi, the supplier of the semiconductor industry, delivered high quarterly numbers and followed up on the ASMI’s rise towards strong earnings. Elsewhere in Europe, too, sentiment has been mostly positive, perhaps in response to a positive jobs report from the US.

The AEX index ultimately closed up 0.7 percent at 713.28, tightening the record set last Thursday. The MedCap index rose 0.5 percent to 1,043.96 points. Stocks in Frankfurt, Paris and London rose as much as 1.3 percent.

Bessie’s fortune increased 5.2 percent. The new member of AEX brought in new orders of 327 million euros in the first quarter. Besi has mainly benefited from strong demand for chips for applications related to fast 5G technology and from the automotive sector, which has been suffering from a chip shortage since the outbreak of the pandemic. Industry fellow ASMI won 3.7 percent.

The job market in the United States

The general sentiment appears to have been boosted by the upbeat report on the US labor market on Friday. With European stock exchanges closed from Friday to Monday for Easter, they are now catching up after already breaking Wall Street records on Monday.

At MidKap, Air France-KLM converted a previous loss into a profit of 1.6 percent. Brussels agreed, subject to conditions, of up to 4 billion euros in additional French government aid to bail out Air France. The previous French government aid of 3 billion euros will be converted into a bond loan that can be exchanged for shares. Paris is also allowed to buy up to 1 billion euros in new shares that Air France-KLM wants to put on the market to raise funds.

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Basic fit

Basic-Fit was an amazing winner among the mid-sized boxes. The fitness chain, which is facing lockdown due to the shutdown in Europe, closed 5 percent higher. British arm of GB Morgan cut its short position, speculating on a lower share price at the gym operator.

The euro was equal to $ 1.1845, versus $ 1.1772 at the close of European stock exchanges on Thursday. The price of a barrel of US oil is now 3.3% at $ 60.55. Brent oil price increased 2.8 percent to $ 63.89 a barrel.

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