Job drop cuts AEX after record streak | Financial issues

Job drop cuts AEX after record streak |  Financial issues

The AEX index closed down 0.5% at 789.55 points. AMX lost a break at the closing bell and closed at 1111.08 points.

Fluctuations on other European stock exchanges are also minimal. The British FTSE 100 fell 0.4%, the German DAX fell 0.5% and the French CAC 40 fell 1.1%.

US stocks are trading lower. Thursday stock market indices Thanks to the strong final speed, there are still small advantages to squeeze in.

The U.S. government’s sharply lower numbers of new jobs in August, 235,000 versus 720,000 jobs expected, follows the disappointing numbers released by the ADP Payment Receipt Processor on Wednesday. In this regard, the government notes the long-term effect of the number of infections with the delta variable, which led to a decrease in consumer spending.

Updated figures for July showed an additional 1 million job growth. The unemployment rate fell from 5.4% to 5.2%. Hourly wages rose 0.6% month over month. There are now 5.3 million fewer jobs than there were before the coronavirus outbreak.

“If anything changes, based on these numbers, it will rather be an extension of support”

“I wouldn’t make a very big conclusion from this. It’s clear that the delta formula has frustrated the recovery of the US economy,” says Luc Appen, chief economist at Dutch private bank Van Lanchot.

“If I were Fed Chair Powell, I would look at an hourly wage increase and look at underlying growth. There you see that together, about 7 million Americans are not returning to the job market for one reason or another, in part because of Corona. American consumer confidence fell in August. Maybe. There is no reason for the Fed to reduce its support more quickly now. If anything changes, based on these numbers, it will rather be an extension of the support.”

In response, the US 10-year interest rate rose sharply to 1.321%. Renco van Schie of Valuedge points to another indication of rising and persistent inflation: “The long-term US interest rate is going up because of soaring wage costs.” He points to the fear of stagflation: “High inflation is not a good combination with lower growth expectations.”

Hourly labor costs increased 4.3% year over year, and an increase of 4.0% was expected. So far, the Federal Reserve has stated that the rise in inflation is “temporary.”

The euro is at $1.19, the highest in a month. Gold is up 1% at $1,830, and silver is 1.5% more expensive.

recovery

Investment strategist Olaf van den Heuvel of Aegon Asset Management believes job growth will pick up again in the next few months. One factor here is the fact that the additional financial support the unemployed have received in recent months is disappearing. As a result, more Americans will be looking for a job.”

On the other hand, he noted that estimates of US economic growth for the third quarter have been cut. Morgan Stanley was at 6.5% and now barely 3%. This is partly due to the emergence of the delta variable and persistent problems with Suppliers. “

Despite historically high current valuations, Aegon continues to be overweight in the stock. “Especially because of the huge support packages. Central banks are being phased out, but governments continue to provide massive support,” van den Heuvel says.

just eat eaten

Chip supplier closed to main Dutch chests iron (-2.9%) and Retail Real Estate Fund Unibill Rodamco Westfield (-2.9%) at the bottom.

Meal delivery Just eat takeaway and the investor Positives It recovered from a larger loss at the closing bell, with minus 0.9%. Both could have recovered somewhat recently from the downturn in the previous weeks.

Coincidence falls 1.4%. The company has had a stroke of luck with a long-term agreement to charter an LNG fuel vessel from Crowley Maritime.

Semiconductors ASMI He took the lead with a gain of 0.7%. Food and detergent product Unilever, which closed Thursday at its lowest level since mid-March, lost profits to end up only 0.3%.

DSM It rises 0.2%. Specialty Chemicals Company announced take over From a supplier of dairy-based flavors for $453 million.

Barber Galapagos From about 1.1% gain to 0.2% loss at the close. The biotech company has been in high demand since the announcement of CEO Onno van de Stolpe’s departure at the beginning of this week, which has fueled speculation about, among other things, the takeover.

parcel locker operator in publishing It loses 2.8% ahead of its quarterly earnings release next week. Air France KLM It loses 1.8%.

Arcadis, involved in dam work in New York and South American cities affected by Hurricane Ida, closed 1.6%.

beanie Type drops 0.1%. ING lowered the price target for the ICT service provider, but maintained its buy recommendation.

Listed in Amsterdam since April Allfunds An 11.7% gain after posting better-than-expected quarterly numbers. ING sees this as reinforced in its buy recommendation for the tech company, making it easier for professional parties to invest in thousands of funds.

Thing It rises 0.7%. The investor bought approximately 10% of the shares of Technip Energies for 196 million euros.

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