Next week, attention will be mainly focused on the quarterly numbers of large companies. After a cautious start, earnings season for the third quarter has already begun. On Beursplein, big names like ASML, Just Eat Takeaway, Besi, RELX and AkzoNobel come in numbers. Earnings season continues outside national borders, including Netflix and Tesla results.
The ball will open this week on the Amsterdam Stock Exchange via chat and payment service provider CM.com. AEX will fund ASML and Just Eat Takeaway on Wednesday. These are uncertain times for ASML, as the US announced stricter rules for doing business with Chinese chip companies. It is also questionable whether the chip machine maker itself will be able to meet the massive demand for its machines, as ASML has also struggled to get enough chips from the manufacturers in recent times. Just Eat Takeaway might notice that people are starting to cook more for themselves now that the prices of many things have risen sharply and families are paying more attention to spending.
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Seven companies come with commercial messages
The busiest day will follow at Beursplein 5. On Thursday, seven companies will send out trade letters, including paint company AkzoNobel, chip company Besi and information supplier RELX.
Luxury brands such as Hermès and Kering mother Gucci come from outside the Netherlands in numbers, but also fertilizer producer Yara International, for example. The companies that stand out the most, however, are US video streaming service Netflix and electric car maker Tesla.
Party Congress in China
As for the macroeconomic news, the focus is mainly on China. The Communist Party Congress is currently being held there. Figures were also released on economic growth in the third quarter, as there were again some coronavirus lockdowns in the country.
Attention is also paid to the interest on UK government bonds and the value of the British pound. This weekend’s new British Chancellor of the Exchequer Jeremy Hunt attempted to nurture confidence in financial markets that Britain’s government spending plans are covered in revenue.
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Many fear stagnation
The stock markets last week had the necessary ups and downs, but most of all there was a lot of fear of a recession. The AEX index closed on Friday, down 0.4 percent at 630.58 points. The MidKap index rose 0.3 percent to 863.24 points. The main indexes in Frankfurt and Paris rose to 1 percent. The FTSE index in London rose 0.3 percent.
The Dow Jones Industrial Average closed 1.3 percent lower Friday at 2,9634.83 points. The Standard & Poor’s 500 Index fell 2.4 percent to 3,583.07 points, and the Nasdaq Technology Index fell 3.1 percent to 10,321.39 points.
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