Stock Markets January 26, 2026

AEX slips 0.14% at close as materials, oil & gas and tech weigh on market

Magnum Ice Cream posts strong gains while Relx falls to a 52-week low; commodities and FX see mixed moves

By Leila Farooq
AEX slips 0.14% at close as materials, oil & gas and tech weigh on market

Netherlands stocks closed lower on Monday, with the AEX index down 0.14% as losses in the Basic Materials, Oil & Gas and Technology sectors pushed the market lower. Magnum Ice Cream Nv led gains, reaching an all-time high, while Relx PLC dropped to a 52-week low. Commodity and currency moves included modest declines in crude and Brent oil, a sharp rise in April gold futures, and mixed movement in major currency pairs.

Key Points

  • AEX closed down 0.14% after losses in Basic Materials, Oil & Gas and Technology sectors
  • Magnum Ice Cream Nv led gains with a 7.86% rise to 15.34, hitting an all-time high; Relx PLC fell to a 52-week low at 33.16
  • Commodities saw crude and Brent oil slip while April gold futures rose sharply; EUR/USD strengthened to 1.19

Netherlands equities ended Monday in negative territory as sector-specific declines in Basic Materials, Oil & Gas and Technology exerted downward pressure on the benchmark AEX index.

At the Amsterdam close the AEX lost 0.14%.


Top winners

  • Magnum Ice Cream Nv (AS:MICCT) was the session's strongest performer, rising 7.86% or 1.12 points to finish at 15.34. The shares moved to an all-time high on the advance.
  • DSM Firmenich AG (AS:DSFIR) added 1.58% or 1.04 points to close at 66.68.
  • ABN AMRO Group NV (AS:ABNd) gained 1.31% or 0.40 points to end the session at 30.88.

Largest decliners

  • CVC Capital Partners PLC (AS:CVC) fell 2.37% or 0.36 points to close at 14.82.
  • Relx PLC (AS:REL) declined 1.89% or 0.64 points to finish at 33.16, reaching a 52-week low.
  • Exor NV (AS:EXOR) dropped 1.63% or 1.15 points to end at 69.35.

Market breadth at the Amsterdam Stock Exchange showed 54 advancing issues versus 47 decliners, while 8 stocks finished unchanged.


Volatility and derivatives

The AEX Volatility measure - which reflects the implied volatility of AEX options - was unchanged on the day, holding at 21.09 (0.00% change).


Commodities and currencies

  • Crude oil for March delivery traded lower, down 0.46% or 0.28 to $60.79 a barrel.
  • Brent oil for April delivery slipped 0.31% or 0.20 to $64.87 a barrel.
  • The April Gold Futures contract rose 2.20% or 110.44 to trade at $5,127.44 a troy ounce.
  • EUR/USD moved higher by 0.50% to 1.19, while EUR/GBP was reported as unchanged 0.12% at 0.87.
  • The US Dollar Index Futures was down 0.65%, trading at 96.77.

Monday's session left the AEX marginally lower and displayed a mix of company-specific strength and weakness across sectors, with notable moves in energy-linked commodities and safe-haven gold influencing market tone.

Risks

  • Sector-specific weakness in Basic Materials, Oil & Gas and Technology weighed on the index and could continue to influence market performance - impacting those sectors directly
  • Declines in crude and Brent oil introduce downside pressure for the Oil & Gas sector and related equities
  • Relx PLC falling to a 52-week low signals company-specific uncertainty for the Technology/Information services sector

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