Stock Markets May 25, 2026 12:05 PM

AEX Reaches Record as Gains in Materials, Health and Tech Lift Amsterdam Stocks

Adyen, BE Semiconductor and Akzo Nobel lead advances while energy names lag; oil drops sharply and gold edges higher

By Marcus Reed

Dutch equities closed higher on Monday, with the AEX index rising 0.79% to a new record. Strength in Basic Materials, Healthcare and Technology helped drive the advance. Adyen NV, BE Semiconductor Industries NV and Akzo Nobel NV were the top performers, while Shell PLC, SBM Offshore NV and Koninklijke KPN NV weighed on the market. Commodity markets saw crude oil fall substantially and gold post gains, while major FX pairs and the US Dollar Index futures showed modest moves.

AEX Reaches Record as Gains in Materials, Health and Tech Lift Amsterdam Stocks

Key Points

  • AEX rose 0.79% to reach a new all time high, driven by gains in Basic Materials, Healthcare and Technology sectors.
  • Top individual performers included Adyen NV (+3.10%), BE Semiconductor Industries NV (+3.07%, all time high) and Akzo Nobel NV (+3.01%); laggards included Shell PLC (-1.13%), SBM Offshore NV (-1.03%) and Koninklijke KPN NV (-0.89%).
  • Commodities shifted notably: July crude oil fell 5.27% to $91.51/bbl, Brent for August dropped 5.02% to $95.18/bbl, and August gold futures rose 1.03% to $4,603.20/oz; AEX implied volatility was unchanged at 21.09.

Netherlands stocks ended Monday's trading session in positive territory, pushed higher by strength in the Basic Materials, Healthcare and Technology sectors.

At the close in Amsterdam the AEX climbed 0.79% to register a new all time high.

Among individual large-cap listings, Adyen NV (AS:ADYEN) was the session's strongest performer, finishing up 3.10% - a gain of 29.70 points - to close at 987.60. BE Semiconductor Industries NV (AS:BESI) added 3.07%, gaining 8.40 points to end at 282.00, and Akzo Nobel NV (AS:AKZO) advanced 3.01%, up 1.56 points to 53.44 by the market close.

On the downside, Shell PLC (AS:SHEL) fell 1.13%, a drop of 0.42 points to 36.69 at the close. SBM Offshore NV (AS:SBMO) slipped 1.03% or 0.36 points to finish at 34.46, while Koninklijke KPN NV (AS:KPN) declined 0.89% or 0.04 points to 4.58.

Market breadth was positive: rising issues outnumbered decliners on the Amsterdam Stock Exchange by 78 to 25, and four stocks finished unchanged.

BE Semiconductor Industries NV (AS:BESI) moved to an all time high during the session, increasing 3.07% or 8.40 to reach 282.00.

Volatility measures were steady: the AEX Volatility index, which reflects implied volatility of AEX options, was unchanged on the day at 21.09.

Commodities saw notable moves. Crude oil for July delivery fell 5.27%, down $5.09 to $91.51 a barrel. Brent oil for August delivery dropped 5.02%, or $5.03, to $95.18 a barrel. In precious metals, the August Gold Futures contract rose 1.03%, gaining $46.80 to trade at $4,603.20 a troy ounce.

Foreign exchange and dollar measures showed modest changes: EUR/USD was unchanged 0.34% to 1.16, and EUR/GBP was unchanged 0.17% to 0.86. The US Dollar Index Futures declined 0.25% to 98.93.

Is SHEL a bargain right now? The fastest way to find out is with our Fair Value calculator. The tool uses a mix of 17 industry valuation models. Get the bottom line for SHEL plus thousands of other stocks and identify undervalued opportunities.


Session takeaway - Amsterdam closed higher with the benchmark index at a fresh record. Sector leadership came from basic materials, healthcare and technology names, while several energy and communications listings lagged. Commodity prices, particularly crude oil, moved sharply lower and gold rose. Volatility remained steady at the session close.

Risks

  • Significant crude oil price declines - a 5% move lower in both WTI and Brent - may increase pressure on energy-sector equities, including integrated oil producers and offshore services.
  • Concentration of gains in a few sectors and stocks could leave the market vulnerable if leadership reverses; despite breadth being positive, a smaller number of large-cap moves can shift market direction.
  • Unchanged implied volatility at 21.09 suggests options markets did not price in increased near-term uncertainty, but rapid commodity swings indicate potential for heightened market stress that is not yet reflected in volatility metrics.

More from Stock Markets

Toronto market ends at fresh record as healthcare, financials and materials lead gains Jun 4, 2026 After-Hours Movers: Lululemon Dips on Guidance as Software and Data Names Show Mixed Reactions Jun 4, 2026 Lululemon Lowers Fiscal 2026 Revenue and EPS Guidance as U.S. Demand Softens Jun 4, 2026 Anthropic Places Engineers Inside NSA to Support Mythos AI for Offensive Cyber Tasks Jun 4, 2026 Trump Directs $700M Toward Coal Industry, Lifting Peabody Shares Jun 4, 2026