(ABM FN-Dow Jones) The Amsterdam stock exchange ended higher on Thursday, with the AEX rising above 900 points again. With a closing score of 904.21 points, a new record, the main index gained 0.5 percent on Ascension Day.
Investors should not get out of stocks, said investment strategist Vincent Juvyns of JPMorgan Asset Management in front of ABM Financial News.
“Don’t sell in May,” said Juvyns, despite the fact that the stock markets have already done well, valuations are high and there are many geopolitical and economic uncertainties.
Click here for: don’t sell in May but buy dividend stocks
The AEX managed to break through the 900 point mark for the first time on Tuesday, only to fall below it again on Wednesday.
Bond yields rose slightly after Boston Fed Chair Susan Collins said the upturn in activity and inflation suggests that current interest rate policy will remain unchanged for an extended period of time until there are signals that inflation is moving sustainably towards the desired target. 2.0 percent goes.
Earlier, Fed members such as Neel Kashkari and Michelle Bowman made a similar sound, which somewhat dampened optimism about an earlier rate cut after last week’s weak US jobs report.
According to the CME FedWatch Tool, most of the market expects the Fed to make its first rate cut in September. June and July probably come too early.
On Thursday it was the turn of the Bank of England. Interest rates were also maintained in the UK. According to economists at ING, the British central bank is coming one step closer to an interest rate cut this summer.
“The Bank of England is undoubtedly becoming more optimistic, but is keeping its options open in light of the uncertainty surrounding inflation rates in the near future. We still expect the first rate cut to take place in August,” ING said.
On a macroeconomic level, it was also announced on Thursday that the number of new applications for unemployment benefits in the United States rose sharply last week. The number of new applications for unemployment benefits amounted to 231,000, or an increase of 22,000. The expectation was 214,000 applications.
Chinese exports rose more than expected in April, by 1.5 percent, as did imports, which increased by 8.4 percent.
The euro/dollar was trading at 1.0778 around the close in Amsterdam on Thursday. Bond yields rose slightly, as did oil prices.
Risers and fallers
Among the main stocks, Besi led with a gain of 3.6 percent. Besi received an order for 26 hybrid bonding systems. Besi did not report who gave the order or how much was involved, but the company did say that more orders are expected from other customers this quarter.
Furthermore, Prosus rose 2.5 percent. Philips rose 0.9 percent and if corrected for an ex-dividend quotation, the increase was even greater. Ahold Delhaize added another 2.0 percent to its stock market value, after an increase of more than 2 percent in response to Wednesday’s figures.
ASR was able to add almost half a percent after a price target increase by Deutsche Bank. For analyst Hadley Cohen, the insurer remains a “top pick” for the next twelve months.
The biggest faller in the AEX was DSM-Firmenich, with a loss of 2.2 percent. Like Philips, the share was listed ex-dividend. Adjusted for this, the share did rise. UBS lowered the price target for DSM-Firmenich, but for UBS analysts DSM-Firmenich remains one of the favorite names in the “Consumer Chemicals” sector.
In the AMX, Vopak gained 1.2 percent and InPost rose 1.4 percent. CTP fell 3.1 percent after figures. CTP performed in the first quarter in line with the developments of 2023. According to Jefferies analysts, the company’s objectives are achievable.
TKH fell 3.5 percent due to an ex-dividend listing. Without this effect, the share did rise.
In the AScX, NSI and ForFarmers gained 2.1 and 3.1 percent respectively. The red lantern was for penny fund Vivoryon with a loss of 2.4 percent.
Wall Street
Around the close in Amsterdam, the American stock markets were trading up to half a percent higher.
Source: ABM Financial News
ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
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