ABN excels on slightly higher AEX

The Amsterdam stock exchange closed on Monday with a modest profit. Investors took it easy and clung to news about TikTok and some acquisitions. ABN Amro was the big winner in the AEX.

The AEX index ended 0.1% higher at 552.44 points. The AMX decreased 0.03% to 810.75 points. The price boards in London (-0.1%), Paris (+0.4%) and Frankfurt (-0.1%) showed a divided picture.

“We started the day positively, but the momentum was quickly lost,” said asset strategist Richard Abma (OHV). “Nevertheless, the stock market in itself is strong. The market takes little notice of covid developments and looks more at monetary and fiscal stimuli that are still having an impact”

Many investors are focused this week on the interest rate meeting of the US Federal Reserve on Wednesday. “The Fed is already on the accelerator. The central bank also has a bit of a breeze, because the dollar is weakening,” Abma noted.

In Asia, the mood was cheerful this morning. The Japanese Nikkei index closed 0.7% higher. Technology investor SoftBank shot up more than 9%, in response to the announced sale of British chip designer ARM Holdings for up to $40 billion to US producer Nvidia.

The US stock market prices were 1.4% to 2.3% higher at the end of the afternoon. Investors seemed satisfied with the news that Chinese tech company Bytedance concluded a deal with software company Oracle about TikToks activities in the US.

In the AEX, banking group ABN Amro took the lead with a profit of 3.9%, partly thanks to buying advice from Sociรฉte Gรฉnรฉrale. ING was up 1.9%.

Real estate fund Unibail traded 3.2% higher. ASMI also showed strong growth. The value of the chip supplier increased by 2.7%.

Stock market heavyweight Royal Dutch Shell (-1.4%) was the biggest decline among the main funds. The oil giant suffered from the lower price of black gold.

Galapagos lost 0.9%. On Friday, the biotechnology company shot up another 7% in response to positive test results for a drug against an autoimmune disease that is common in people with rheumatic disorders. Incidentally, American partner Gilead is taking over Immunomedics for $21 billion. This acquisition deals with the treatment of (breast) cancer.

Wolters Kluwer contributed 0.8%. The information supplier acquires an American company that supplies systems for tax and accountancy firms for โ‚ฌ136 million.

Among the medium-sized funds, pharmacy chair supplier Fagron (+1.6%) was at the top of the list. Vopak rose 0.9%. Together with the Global Energy & Power Infrastructure Fund of investor BlackRock, the tank storage company acquired three large industrial terminals in the United States for $620 million.

Lighting manufacturer Signify (-1.4%) was a laggard in the AMX. Altice Europe dropped 0.02% to โ‚ฌ4.13. This is two cents above the takeover bid that founder and major shareholder Patrick Drahi made on Friday for the cable and telecom provider. Altice Europe also announced that it would raise โ‚ฌ900 million with the issue of bonds maturing in 2028. The money will be used to repay and refinance loans.

Kiadis Pharma climbed 5.6% on the local market. The biotechnology company has received FDA approval from the US medicines authority to start a clinical trial for the treatment of Covid-19.

Euronext dropped 2.5%. The stock market operator, together with the Italian state creditor CDP and the Italian bank Intesa Sanpaolo, made a bid for Borsa Italiana. However, the Swiss stock exchange company SIX seems to have the best cards to buy the Milan stock exchange.

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