A huge AEX surprise and the year-end rally is losing momentum?

Een AEX-surprise van jewelste en de eindejaarsrally verliest momentum?

Hello year end rally, where are you? The AEX indication is -0.2% after another bad session on Wall Street and Asia is now also turning red.

That is despite China opening up again. On the networks it is said that we are worried about the economy and China is also releasing a lot of bad economic data today, which is probably why. For the time being it is mainly boring, there is hardly anything moving.

  • European futures open -0.2% to +0.1%
  • The US pluses 0.1%
  • In Asia, almost all markets are a few tenths in the red
  • Is the nervousness kicking in again? The volatility (CBOE VIX Index) is +6.8% at 22.2
  • The dollar is up 0.1% to 1.045 again. Yesterday EUR/USD touched 1.05, it moves fast
  • Gold and oil are 0.1% lower and crypto 0.4% to 0.7%

Barely any movement? Interest rates are blowing again. Lower, but stock prices don’t want to. And we’re not used to that this year, where the two correlate so perfectly.

Is the market sometimes losing momentum? See the technology index Nasdaq 100 versus the US 10-year yield here. Does the market sometimes switch from inflation and interest rate mode to recession mode?

Maybe, but the strange thing (?) is that there is still no forecast for an earnings recession. Expectations are even rising a bit again and the Nasdaq 100 ended up only falling about 10%. peanuts.

The same story applies to the AEX and our interest rates as to the Nasdaq 100: go ahead with the goat!

The news now on the broad market, CNBC:

In a significant easing of Covid controls, the Chinese government said Wednesday that people will no longer need to show negative virus tests or health codes in order to travel between different parts of the country.

Chinese authorities also said that unless an area is designated as high-risk, work and local production cannot be stopped.

The announcement on the National Health Commission’s website formalized other recent changes to Covid controls, such as allowing more people to quarantine at home.

Logically? Because the economy:

Over to the Damrak and wait a minute, who will be in the AEX?! And who’s going out?! Yes Exor, the investment fund of the Agnelli family will be included. ArcelorMittal, DSM, Prosus, RELX, Shell, UMG, Unibail and Unilever: well, how Dutch is the index with Exor now? And precisely our national love-hate fund is going out.

Refinitiv, what is Exor?

Exor NV is an investment holding company based in the Netherlands. The Company invests in companies from different sectors, mainly in Europe and in the United States. It holds interests in

  • PartnerRe, a reinsurance company;
  • Fiat Chrysler Automobiles (FCA), a designer, developer and producer of passenger cars, light commercial vehicles, components and production systems;
  • CNH Industrial, a producer of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles, as well as powertrain applications;
  • Ferrari, a passenger car and sports car manufacturer;
  • The Economist, a magazine with focus on international news, politics, business, finance, science and technology
  • Juventus, a sports club. FCA, CNH Industrial, Ferrari, PartnerRe and Juventus Football Club, together with Holdings System, constitute the Company’s six operating segments.

Incredibly, the fund went public on the bottom: March 6, 2009. Here reinvested and indexed versus the AEX, your interest is immediately aroused:

The major shareholders, you are really on the back seat of:

Even so, the fund is quite large, doesn’t seem that expensive at first glance, but barely pays dividends.

Furthermore, there is only one piece of news on the Damrak and it is always exciting to see what the course does when a biotech releases a press release:

News, advice, shorts and agenda

The most important ABM Financial news since the Amsterdam closing yesterday.

  • 08:08 Slightly lower opening AEX expected
  • 07:16 Pharming publishes positive results Phase 3 study leniolisib
  • 07:05 European stock markets are likely to open mostly flat
  • 07:00 Chinese exports fall much faster than expected
  • 06:55 Stock market agenda: macroeconomic
  • 06:54 Exhibition agenda: Dutch companies
  • 06:54 Stock market agenda: foreign funds
  • 06 Dec Stock market update: AEX on Wall Street
  • Dec 06 Wall Street closes in the red
  • 06 Dec Oil price drops in New York
  • 06 Dec Exor pushes Just Eat Takeaway out of the AEX index
  • 06 Dec European stock markets close lower

The AFM reports these shorts:

The agenda:

14:30 Fastned – Bava

13:00 Campbell Soup – US First Quarter Figures
22:00 Oracle – Second Quarter (US) Figures
00:00 GameStop – US Third Quarter Figures

04:00 Trade balance – November (Chi)
08:00 Industrial Production – October (Germany)
11:00 Economic Growth – Third Quarter Finals (EUR)
1:00 PM Mortgage Applications – Weekly (US)
4:30 PM Oil Stocks – Weekly (US)
21:00 Consumer Credit – October (US)

And then this

Another off day:


Go ahead! About ESG, really.

This sounds like a lot, it is, but think of ASML and in the US only Meta already lost this:

The president even came by for it:

There is already a customer:

Who do we have here with what?

And he gives endless interviews his learning process. Or something.

Out of China, always difficult? Who ever knows:

Have fun and good luck today.