Prosus leads AEX to profit, AF KLM down | Financial

The AEX is 0.2% higher at 769.33 points. The AMX drops 0.3% to 1070.6 points.

Stock markets in Asia are markedly higher. Investors are reacting to the rise in consumer price inflation in China at a slightly slower pace. On an annual basis, prices rose 9.0% in July, following an 8.8% increase a month earlier. Month on month the increase is 0.5%.

The Nikkei is closed after the closing ceremony of the Olympics. The Hangseng index gains 0.9%, Shanghai gains 1%. In Australia, some lockdowns against the spread of the corona virus have been lifted.

China Telecom launches largest IPO this year in Shanghai, to raise €7 billion. That listing comes a few months after China Telecom’s listing in New York was delisted following disagreements between Beijing and Washington.

Stock exchanges in London, Frankfurt and especially Paris are flat to lower. German central bank chairman Jens Weidman warns of faster inflation.

New York lower

In New York, futures for the opening of the exchanges at 3.30 pm are in the red to 0.3%.

According to brokers, that trade is influenced by negotiations about the major infrastructure deal in American politics. President Biden is seeking support for a $1 trillion package of measures. The vote is expected this afternoon.

The Dow Jones index closed 0.4% higher on Friday, while the S&P 500 rose 0.2% to a record high.

The euro is a fraction lower at $1.1763. Brent oil is 2% cheaper and falls below $70 a barrel. The gold price is down more than 1% to $1744 as the Federal Reserve signals that it will reduce its support, and the Bank of England has taken that step.

The interest rate for a 10-year US government bond is unchanged at 1.303%. Bitcoin is losing 2% at $$43,542 after rallying to $45,000 over the weekend.

Among the main funds, tech investment fund leads prosus with a 2% price increase. Semiconductor ASMI rises 1.2%, chip supplier besi plus 0.8%, just like ASML.

At the bottom is a chemical supplier IMCD 3% in red. shell leave 0.3%.

In the medium-sized funds, biotech fund Galapagos are almost 5%.

midcap fund PostNL drops 3.3%. It reports higher quarterly figures and delivered a record 108 million parcels in the first quarter of this year, less than the previous quarter. The operating result slightly lags behind analysts’ expectations. PostNL will invest an additional €450 million in the coming years. That investment is 16% above consensus expectation, according to Jefferies.

At the top of the Midkap is SBM Offshore with 1% exchange rate gain, with tank storage company Vopak (+0.8%) and JD Peet’s.

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Prosus leads AEX to profit, AF KLM down | Financial
Source link Prosus leads AEX to profit, AF KLM down | Financial


Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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