Slotcall: Duitse tegenvaller

Final call: German setback | IEX.nl

AEX (+ 0.2%) took things easy again today. Segment managed to find the green numbers again after completing minus yesterday.

Today, the AEX index has turned green on a par with many other European indicators. This is despite a disappointing ZEW indicator. This came in at 70.7, which is much worse than expected 79 and also lower than 76.6 last month.

This may be due to the stricter lockdown measures than our eastern neighbors. In general, it is an indication of declining confidence of German institutional investors in the economy.

Fasted

Presented today Fasted (-1.4%) Quarterly numbers were significantly lower than expected. In the first three months of this year, the express sales increased by 15%, to € 2 million. Too little for a company with a market capitalization of 2.3 billion euros.

Vastend points out that the Corona pandemic is the culprit. According to the company, significant growth can be expected due to the increase in the number of electric cars. IEX analyst Nils Quirts has expressed doubts about this. Read why below:

Just eat takeaway

Another company came out with Q1 numbers this morning Just eat takeaway (+ 6.7%). Although the company has been dealing with a low share price for some time, the quarterly numbers today have been satisfactory. This is also evident from the price, which expired at + 6.7% today.

JET orders rose 79% in the first quarter, beating expectations. Meal providers in particular are doing well in the UK, with delivery orders rising by an unprecedented 695%. So the deployment of the British Delivery Network is paying off.

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You can read in Peter Schutte’s analysis below what obstacles the delivery person will face on their way and what are the growth opportunities for Just Eat Takeaway:

Pensions

Calm in the interest rate market. The Dutch fee on ten-year government paper remained stable at -0.22%.

Wide market

  • The European indices for France (+ 0.0%) and Germany (-0.1%) have nothing to complain about. Spain (-0.6%) slipped again slightly.
  • Wall Street has been battered and battered as it appears that a pause has been taken from Johnson & Johnson vaccinations. There, clots were found in six vaccines. The S&P 500 is down -0.1%, the Dow Jones is -0.3% and the Nasdaq is + 0.6%.
  • The euro was up 0.1% and is now trading at 1.193 against the US dollar.
  • Gold (+ 0.5%) and silver (+ 1.7%) are on the rise again.
  • Oil: WTI (+ 0.9%) and Brent (+ 0.8%) are rising again.
  • Bitcoin performs well at + 4.9%.

Damask

  • Tom Tom (-1.6%) tomorrow with the quarterly numbers. The market expects a turnover of 129 million euros, which means a 1.5% decrease compared to the dramatic first quarter of 2020.
  • Lost patent case Phillips (-0.0%) against Garmin and Fitbit does not hurt the cycle.
  • Air France-KLM (-5%) Screams of “reassurance, reassurance” with the already announced version. The company today submitted the details of the offer. Read here an analysis by Niels Quirts that he provided in response to this.
  • Also Fagron (-5.1%) Negative after disappointing sales numbers in the first quarter. Revenue declined 4.8% as the market expected stability.
  • OCI (-1.0%) does not benefit from Berenberg targeted augmentation. The stock goes to € 24 from € 16 and the buying advice remains the same.
  • Favorion The fastest in the AScX is up + 5.2%.
  • The genies (+ 3.3%) It is doing well, but its 103,000 trading volume is not that impressive.
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Opinions

  • Aperam: up to 40 euros from 36 euros and keep – Deutsche Bank
  • ArcelorMittal: Go for € 30 from € 24 and buy – Deutsche Bank
  • Fagron: to 19.50 euros from 21.50 euros and keep – KBC
  • ING: to € 11.50 from € 10.80 and buy – Citigroup Smith Barney
  • ING: to € 12 from € 10.50 and buy – JPMorgan Cazenove
  • Just Eat Takeaway: Go for € 92 from € 93.40 and buy – RBC Capital Markets
  • KPN: to € 3.50 from € 3 and buy – Citigroup Smith Barney
  • OCI: to € 24 from € 16 and buy – Berenberg
  • Ontex: to 15.50 euros from 16 euros and buy – Kepler Cheuvreux
  • Benefits: up to € 100 from € 97 and keep – independent search

agenda

April 14 Event consensus
12 o’clock Ahold AvA
12 o’clock Pam Ava
12 o’clock KPN AvA
8:00 TomTom Q1 numbers
13:00 BlackRock Q1 numbers
13:00 JPMorgan Chase Q1 numbers
13:00 Wells Fargo Q1 numbers
13:00 Goldman Sachs Q1 numbers

Queen Grooters is the IEX editor. The information in this column is not intended as professional investment advice or as a recommendation to make specific investments. Click here for an overview of IEX Editors’ Investments.

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