Besi leads the low AEX, while Atos falls after a profit warning

Besi topped the Amsterdam AEX index on Monday. The chip supplier benefited from the buy recommendation and positive trade report from Taiwanese chip maker TSMC. Ados, a French IT company, on the other hand, fell sharply after a profit warning in Paris. The mood in European stock markets remained cautious.

Investors are waiting for the start of the earnings season in the US later this week and the significant US inflation figure scheduled for Wednesday. Investors were already feeling the pinch after the US Federal Reserve pointed out last week that interest rates could be raised quickly to curb high inflation.

The benchmark index at Beursplein 5 was down 0.5 percent at 784.83 points in morning trade. Midcap also fell 0.5 percent to 1078.19 points. Stock markets in Frankfurt, London and Paris lost up to 0.5 per cent.

The PEC rose 4.5 percent thanks to the Bank of America’s buying recommendation. Taiwan’s chipmaker DSMC also posted record sales in the sixth consecutive quarter against strong demand for chips. On the other hand, industrialized ASML and ASMI lost more than 1 percent. Meal Delivery Just Eat Takeaway and chemical distributor IMCD lost up to 3 percent on major companies in Tamrok.

At Midcap, the charging station manufacturer Alfen closed the line with a loss of 2.7 percent. Aviation Combination Air France-KLM and soil researcher Fukro are strong climbers with gains of 1.7 and 1.4 percent.

In Paris, Ados lost 16 percent. The IT service provider warned of disappointing annual results. While stable revenue was expected, the company saw its revenue fall last year. The operating limit was lower than expected due to project delays due to high costs and supply problems.

Sodexo won 0.4 percent. French catering and cleaning company acquires American Frontline Food Services. This acquisition further expands the company’s food delivery services.

The euro was at $ 1.1321, up from $ 1.1351 on Friday. U.S. oil prices rose 0.4 percent to $ 79.22 a barrel. Brent oil rose 0.5 percent to $ 82.13 a barrel.