Stock Market Update: AEX finds its way
Tuesday, 09 March 2021 11:00 AM
(ABM FN-Dow Jones) The Amsterdam Stock Exchange rose on Tuesday morning, although the company’s figures released before the market were mainly negative. At eleven o’clock the AEX won 0.9 percent at 671.85 points.
In Amsterdam, technology stocks were able to recover a little more from last week’s losses, despite a sharp fall in the Nasdaq index on Monday evening. According to SEB analysts, the US technology transfer has officially ended in a revision. This is what is declining by ten percent. However, this afternoon when the Wall Street reopens its doors it shows that the Nasdaq future is recovering.
The SEB said the S&P 500 decline on Monday night was moderate, but continued to cycle from growth to value shares. Simon Weirsma, ING’s investment manager, said: “The reflection cycle is in full swing.
“Investors have unshakable hopes for a strong economic recovery later this year. Expansion of locking measures and curfew in our own country will not change that,” Weirsma said. “While investors appear to be gaining more confidence again, it is very difficult to predict what the continued volatility of technology stocks in the wake of the sharp fall in the Nasdaq index on Monday will mean for the broader sense.”
Axis strategist Stephen Innes has seen a surge in sentiment in Asia this morning, following reports that the Chinese government is likely to take action to support China’s stock markets.
The Euro / Dollar pair traded at 1.1907 this morning. With the US accelerating vaccinations and a boost from Joe Biden’s corona support package, investors predict that the U.S. economy will outperform the eurozone economy. In the first months of this year, the currency pair was still at the level of 1.2150 on average. Oil prices rose 0.5 percent.
The big economic agenda is low today, while the revenue period is almost over. Later this week, the focus will be on the central bank, which will announce its interest rate decision on Thursday afternoon.
Recipients and followers
Among the major stocks, Royal Dutch Shell and Adien rose 1.9 to 2.6 percent. NN Group and Unibile-Rodamco-Westfield lost 2.1 to 2.6 percent.
Figures from TKH Group and coffee maker JDE Beats received a clear negative reception with price losses of more than six per cent. Jefferys found the view of the coffee chain particularly disappointing, while the film on DKH was somewhat mixed according to ING. After the fitness club operator performed with less strength than expected in 2020, BASIC-Fit fell 2.8 percent. S.P.M. The offshore euro topped the list with a gain of 2.5% to 15.62. ING SPM raised the price target from 18.50 to 20.50 while maintaining the buying advice.
At ASCX, Alpen and Sligro won up 3.8 percent. Kentrian lost 0.2 percent.
Domestically quoted CM.com won 1.5 percent after numbers.
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