The AEX index is slightly higher on Tuesday afternoon in a calm market, now that investors are focusing on new economic figures from the United States. On the last full trading day before Christmas, trading volume remains low, while some standout funds add color to the day.
AEX price slightly higher, AkzoNobel and InPost dominate
The AEX index is moving around 944 points on Tuesday afternoon, after previously giving up some ground. Investors are keeping their fingers crossed, especially due to the approaching holidays and limited economic news in the morning. Trading closes early on Wednesday due to Christmas Eve, after which the stock exchange will be closed on Thursday and Friday.
Within the main index, AkzoNobel is once again attracting attention. The share gains more than one percent after it became known that activist investor Cevian Capital has doubled its stake to 10 percent. InPost is also performing well and climbing 0.9 percent.
At the bottom, banks ING and ABN Amro showed losses of 1.1 and 1.2 percent respectively. Philips also drops by one percent.
European markets remain close to home
Sentiment is also cautiously positive elsewhere in Europe. The Stoxx Europe 600 index is trading 0.2 percent higher, climbing above its highest closing level ever. The standout is Novo Nordisk, which rises 8 percent after FDA approval for a pill version of the popular weight-loss drug Wegovy.
The DAX index in Frankfurt gains 0.2 percent, while the CAC 40 in Paris falls slightly. Movements remain limited in London. Analysts point to the low volume as institutional investors have largely closed their positions before the end of the year.
US economy is growing faster than expected
New figures show that the US economy grew by 4.3 percent in the third quarter, the fastest pace in two years. The increase was mainly driven by strong consumer spending and robust business investments. Inflation was also not too bad: the core PCE, the Fed’s favorite inflation gauge, stood at 2.9 percent.
The figures are remarkably strong, especially considering the postponement of publication due to the prolonged government shutdown in October. Gross domestic product (GDP) growth exceeded expectations of 3.8 percent, while consumption also provided a strong boost with an increase of 3.5 percent.
Wall Street investors reacted mixed. Although the growth figures are encouraging, the market weakened slightly due to concerns about the pace of future interest rate cuts. US government bonds fell after the publication and stock futures gave up ground.
Still, the figures confirm that the US economy is showing resilience despite geopolitical uncertainties and inflationary pressures. The Federal Reserve (Fed) is currently sticking to its forecast of only one interest rate cut in 2026, partly due to persistently high inflation.
Notable outliers and company news
Major outliers remain in Brussels and Amsterdam. In the Midkap, Air France-KLM stands out with a decline of more than 2 percent, while Eurocommercial Properties gains slightly. OCI is in the spotlight after a legal threat from the VEB over the merger plans with Orascom.
Johnson & Johnson is catching the eye internationally after a billion-dollar fine in the US. Ryanair is also under fire: the Italian competition authority imposed a fine of 255 million euros on the airline for abusing its market position.
Source: https://newsbit.nl/aex-koers-stabiel-akzonobel-stijgt-na-belang-van-cevian/
