At around 12.10 the AEX index recorded 1.3% higher at 567.9 points. The AMX rose 0.8% to 753.1 points. Prices were also on the rise in London (+ 1.5%), Paris (+ 1.5%) and Frankfurt (+ 0.9%).
Optimism is driven by hopes for more support from governments and central banks, says ING analyst Simon Wiersma. “Messages that lockdown measures in US states like Texas and Florida need to be tightened again after new virus outbreaks only fuel hopes for more stimulus from the US government and the Federal Reserve.”
“AEX drops to 300 points”
According to technical analyst Nico Bakker, the AEX can rise to 630 points in the second half of the year. But for next year he expects a drop to 300 points. When the indicator of the Amsterdam stock market peaks at the end of this year, a multi-year upward cycle will end, according to Bakker. The technical analyst knows what he will do with his investments early next year. “Then I have an empty wallet,” he said during an online seminar from DFT.
The US stock markets are expected to open slightly to slightly lower this afternoon after the strong closing on Thursday evening. Bank shares rebounded on Thursday as US regulators agreed to amend the Volcker Rule to allow banks to invest with private capital in private equity funds, which was previously prohibited. At the same time, however, the dividends from major banks were limited by the Federal Reserve, the US central banking system.
In the AEX Randstad the leader with a plus of 3.7%. The broadcaster’s course had fallen behind in recent months due to the corona crisis.
AkzoNobel was worth 2.1% more. The paint manufacturer benefited from a price target increase of investment bank Credit Suisse from € 85 to € 95. Also data supplier WoltersKluwer (+ 2%) did well.
The bank shares ABN Amro (-1.7%) and ING (-0.6%) fell after the nice gains on Thursday. Real estate fund Unibail gave up 1.4%.
Industrial supplier went into the AMX Aalberts (+ 4%) and chip company Besi (+ 3.6%) in the lead. Air France KLM rose 3%. The Dutch cabinet comes to the rescue of KLM with a support package of € 3.4 billion, the cabinet confirmed this morning. Minister Hoekstra (Finance) also reported want to make available additional support.
Pharmacist supplier Fagron (-1.6%) was at the bottom of the medium-sized funds. Fertilizer company OCI also gave up 1.6%.
Biotechnology company won from the small cap funds Vivoryon 1.5%. Vivoryon and the Alzheimer’s Disease Cooperative Study have developed a trial design for the Phase 2a Alzheimer’s study in the US.