17 April 2019Reading time: 3 minutes

The AEX is the main indicator of the stock exchange in Amsterdam, which is one of the smaller players worldwide. Based on recent data from news agency Bloomberg, The Netherlands stock exchange is in twentieth place worldwide measured by market value. The Amsterdam stock exchange could move up some places this year, due to the IPO of Naspers. The South African media conglomerate wants to bring 25 percent of their international activities to the stock market in Amsterdam. The remaining 75 percent will stay listed on the Johannesburg stock exchange in South Africa. With the IPO in Amsterdam, Naspers will not issue any new shares. At this moment the company is valuated at almost 100 billion euro, which would make Naspers the largest stock market listed internet company of Europe.

It remains to be seen when the company will make its debut in Amsterdam and under which name this will take place. Naspers wants to accommodate their activities outside South Africa within a new company, of which the name is still unknown.

At the end of December last year, we wrote about how the AEX index remained under pressure due to the trade dispute between the United States and China. In the fourth quarter of 2018, the AEX plummeted and ended last year at 487,88 points. This was the worst quarter for the index since the third quarter of 2011.

During the last period, the Dutch main index has made up for this loss of the fourth quarter of 2018. In the first quarter of 2019, the AEX rose to 548,98 points. With a gain of 61,1 points, this was the second largest increase for the index of this century.

The increase seems partly due to the diminished concerns about the trade agreement between the US and China. It remains to be seen if an trade agreement eventually will be reached and how this might affect companies that are listed on the AEX. Also the concerns about the Brexit have slightly decreased, because the Brexit has been postponed until October 31, 2019. However, the eventual outcome of the Brexit still remains uncertain.

Half-way March the revaluation of the AEX took place. The composition of the index takes place based on traded shares. This concerns the total number of traded shares of a company multiplied by the stock price. The valuation is also based on the current stock market value of the shares of the company that are listed on the Amsterdam Stock exchange. This concerns the total number of issued shares of a company multiplied by the stock price.

Based on this, Adyen and IMCD have been promoted to the AEX. They have traded places with Signify and Altice Europe, that are now listed on the AMX index.

The future value of the index is subject to several political, industrial and sector specific as well as economic factors. Investors should consider these risks when making their investment decisions. Developments can be different at any time than investors anticipated on, which could result in capital losses.

Vontobel products on the AEX index are tradable at DEGIRO.

Important legal information:

This information does not constitute a financial analysis, but product advertisement. Thus it does not meet the legal requirements to ensure the impartiality of financial analysis and is not subject to trade prohibition before the publication of a financial analysis.

Fordetailed information, particularly regarding the structure and the risks associated with an investment in the derivative financial instruments, prospective investors should read the Base Prospectus, which is available together with the Final Terms and any supplement to the Base Prospectus in electronic form on the issuer’s website: Additionally, the Base Prospectus, anysupplements to the Base Prospectus and the Final Terms are available inprinted form, free of charge, at the registered office of the issuer: Vontobel Europe AG, Bockenheimer Landstrasse 24, 60323
Frankfurt am Main, Germany.

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06/04/2020 06:59:04