Stock Markets April 2, 2026

AEX Inches Lower as Basic Materials, Tech and Industrials Weigh on Amsterdam Market

Shell, KPN and BE Semiconductor Outperform; Akzo, ASML and Adyen Lead Declines amid Mixed Commodity and FX Moves

By Priya Menon SHEL ASML
AEX Inches Lower as Basic Materials, Tech and Industrials Weigh on Amsterdam Market
SHEL ASML

Netherlands stocks closed modestly lower on Thursday, with the AEX down 0.09% as losses in Basic Materials, Technology and Industrials offset gains among several large-cap names. Shell, Koninklijke KPN and BE Semiconductor were the top performers, while Akzo Nobel, ASML and Adyen registered the steepest falls. Commodity prices and currency moves added further market nuance.

Key Points

  • AEX closed down 0.09% with losses in Basic Materials, Technology and Industrials driving the decline.
  • Shell, KPN and BE Semiconductor were the session's best-performing AEX constituents; Akzo Nobel, ASML and Adyen were the biggest decliners.
  • Commodity moves were pronounced - Brent and US crude posted double-digit percentage swings, while gold futures slipped; currency shifts included EUR/USD down to 1.15.

Netherlands equities ended Thursday's trading session slightly in the red, as sectoral drops in Basic Materials, Technology and Industrials pulled the benchmark lower. At the close in Amsterdam the AEX index recorded a decline of 0.09%.

Among individual components, Shell PLC (SHEL) was the session's strongest performer on the AEX, rising 2.73% - a gain of 1.08 points - to finish at 40.60. Koninklijke KPN NV (KPN) advanced 1.66% or 0.08 points to close at 4.85, while BE Semiconductor Industries NV (BESI) added 1.39% - up 2.60 points - to end the day at 190.15.

On the downside, Akzo Nobel NV (AKZO) led losses, falling 3.61% or 1.84 points to 49.06. ASML Holding NV (ASML) dropped 2.24%, a decrease of 26.60 points, to settle at 1,161.00, and Adyen NV (ADYEN) declined 2.14% or 18.50 points to finish at 845.20.

Market breadth in Amsterdam was narrowly negative, with decliners slightly outnumbering advancers. Falling stocks on the exchange totaled 53 versus 50 gainers, and 5 issues ended unchanged.

Adyen's shares also hit a 52-week low during the session, trading down 2.14% to 845.20 by the close.

Implied volatility for AEX options, as measured by the AEX Volatility index, held steady, registering no change from the prior reading and standing at 21.09.

Commodity markets showed marked moves. Crude oil for May delivery climbed 11.23%, an increase of 11.24, to trade at $111.36 a barrel. Brent oil for June delivery rose 6.37% or 6.44 to reach $107.60 a barrel. In precious metals, the June Gold Futures contract weakened, falling 2.83% or 136.35 to trade at $4,676.75 a troy ounce.

Currency markets reflected modest shifts. The euro slipped against the dollar, with EUR/USD down 0.43% to 1.15. EUR/GBP was effectively unchanged, registering a 0.16% move to 0.87. The US Dollar Index Futures climbed 0.35% to 99.81.

Separately, market commentary included a note on AI-driven portfolio selections and stock-picking tools. That commentary cited performance figures for certain strategies and individual winners named within that service, noting strong year-to-date outcomes for a number of global portfolios and specific past returns for selected stocks.


Key points

  • AEX closed down 0.09% as sector losses in Basic Materials, Technology and Industrials outpaced gains.
  • Top AEX performers: Shell (up 2.73% to 40.60), KPN (up 1.66% to 4.85), BESI (up 1.39% to 190.15).
  • Largest decliners: Akzo Nobel (down 3.61% to 49.06), ASML (down 2.24% to 1,161.00), Adyen (down 2.14% to 845.20 and at 52-week lows).

Risks and uncertainties

  • Sector concentration risk - declines in Basic Materials, Technology and Industrials may pressure related stocks and subsectors highlighted in the session.
  • Commodity price volatility - large moves in crude and Brent oil could add supply-chain and input-cost uncertainty for energy-intensive and industrial firms.
  • Currency movement - shifts in EUR/USD and the stronger US dollar index could affect exporters and importers operating across the eurozone.

This report presents market moves and closing levels for the Amsterdam exchange and related market indicators. Data reflect prices and percentage changes recorded at the close of trading on Thursday.

Risks

  • Sector concentration risk from declines in Basic Materials, Technology and Industrials, which could pressure companies within those sectors.
  • Commodity price volatility - notable rises in crude and Brent could increase cost pressures or margin uncertainty for industrial and energy-related firms.
  • Exchange-rate movements - changes in EUR/USD and a firmer US Dollar Index may affect trade-exposed companies' revenues and margins.

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