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AEX starts the trading day in the green

by News Room
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(ABM FN-Dow Jones) The Amsterdam Stock Exchange is preparing for a higher opening on Friday. AEX futures were 0.6 percent in the green about an hour before the stock market gong.

The AEX also closed half a percent higher at 847.59 on Thursday during a busy reading day. This is how the index crept back towards the record level, around 855 points on Monday.

Wall Street also found its way on Thursday, with the main S&P 500 closing up 0.6 percent to an all-time high.

That means investors have recovered from Tuesday’s disappointment, when disappointing U.S. inflation weighed on the stock market.

However, LPL Financial analyst Adam Turnquist also saw a positive side in the figure.

“Market expectations and Federal Reserve forecasts are now more closely aligned, removing a source of volatility. In addition, better-than-expected macroeconomic data has been a driving force in the market’s repricing of rate cuts, with the potential for hard cuts diminishing,” Turnquist said.

Tokyo’s Nikkei index rose this morning by almost one percent to 38,490 points. Earlier today, Japan’s main index was at 38,865 points. This left the index less than 100 points below its all-time high of December 29, 1989.

One reason Japanese stocks have risen in recent weeks is the weak yen, which has lost about 7 percent of its value against the dollar this year, improving the competitive position of Japanese companies.

Hong Kong’s stock market is Asia’s leader this morning, up 2.5 percent. China’s stock market is still closed.

U.S. oil futures were trading almost unchanged this morning after nearly two percent to $78.03 a barrel in New York on Thursday night.

Today, the company’s agenda is almost empty. On the macroeconomic front, the main focus is on the release of US producer prices at 3:30.

Company news

Euronext’s turnover in the last quarter was 374.1 million euros, while the analyst consensus expected 370 million euros. “In 2023, Euronext achieved record turnover and revenues of almost 1.5 billion euros,” said CEO Stéphane Boujnah. Euronext will distribute a dividend of 2.48 euros per share for 2023, which is almost 12 percent more than in 2022.

Jefferies raised the price target for DSM-Firmenich from EUR 116.00 to EUR 124.00 with a reiteration of the buy recommendation. The Bank is pleased with the announced demerger of Animal Nutrition & Health. And Berenberg raised the price target for DSM-Firmenich this morning from EUR 110.00 to EUR 120.00, maintaining a buy recommendation.

Galapagos will present preliminary data from the EUPLAGIA-1 phase 1/2 trial in patients with relapsed/refractory chronic lymphocytic leukemia at the meeting of the European Society for Blood and Marrow Transplantation and the European Society of Hematology these days in Valencia.

Wall Street is closing locations

On Thursday, the S&P 500 rose 0.6 percent to 5,029.73 points, the Dow Jones index rose 0.9 percent to 38,773.12 points and the Nasdaq closed 0.3 percent to 15,906.17 points.

Source: ABM Financial News

ABM Financial News is a provider of stock market news, videos and data for both real-time trading platforms and trading floors as well as online and offline media publications. The information in this article is not intended as professional investment advice or a recommendation to make specific investments.

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