Mark falls in AEX slightly higher after turnover warning

Signify was the biggest loser on the AEX index on Thursday, which showed little gain. The lighting company shed nearly 4 percent after the turnover warning. The group experienced a stronger-than-expected decline in its business in the fourth quarter due to disruptions caused by the coronavirus outbreak in China. Other components also performed less than expected. This year’s profit margin is lower than expected due to lower turnover and higher fixed costs.

The mood on Damrock was reserved. Investors are mainly awaiting the key US inflation numbers, which will be announced later in the day. Hopes that US inflation cooled further in December have already buoyed stock markets this week. Economists expect inflation to have reached 6.5 percent last month. It was still 7.1 percent in November. Inflation in the world’s largest economy has eased significantly from a peak of 9.1 percent in June.

The AEX rose 0.2 percent to 740.24 points in morning trade. Midcap gained 0.4 percent to 987.22 points. Shares in Frankfurt, London and Paris rose as much as 0.5 percent.

Tech investor Prosus was minus 2 percent in AEX’s tail group, excluding Signify. Insurer Aegon (2.8 percent) was the strongest riser, thanks to a positive analyst report from Berenberg.

Chip companies ASML, Besi and ASMI showed a mixed picture after TSMC’s quarterly results. The Taiwanese chipmaker, an important customer of ASML, posted record profits last quarter. Earlier this week, the world’s largest chip maker’s December sales figures were even more disappointing. ASML won by 0.2 percent. ASMI and Besi lost up to 1.6 percent.

At MidKap, consultancy and engineering company Arcadis gained 2.8 percent, thanks to a buy recommendation from analysts Oddo BHF. Fastned released quarterly figures. Operator turnover of charging stations rose sharply in the last quarter of last year. However, the stock lost 4.8 percent.

In London, retail establishments have gained attention. Supermarket chain Tesco lost 1.2 percent after the release of results for the last quarter. Rival Marks & Spencer, which released the figures, fell more than 1 percent.

The euro was at $1.0758 against $1.0755 the previous day. A barrel of U.S. crude was up 0.4 percent at $77.68 a barrel. Brent crude was up 0.3 percent at $82.94 a barrel.