Stock Markets February 4, 2026 12:05 PM

AEX slips as technology, consumer goods and industrials lead declines

Amsterdam benchmark closes down 0.37% as IMCD posts biggest gain and Prosus falls the most

By Hana Yamamoto ASML

Netherlands equities closed lower on Wednesday, with the AEX finishing down 0.37%. Gains in select consumer and industrial names were offset by broad losses in technology, consumer goods and industrial sectors. Market breadth was mixed and volatility measures held steady while commodity and currency moves were modest.

AEX slips as technology, consumer goods and industrials lead declines
ASML

Key Points

  • AEX closed down 0.37% with losses concentrated in Technology, Consumer Goods and Industrials.
  • Top winners included IMCD (up 9.92%), KPN (up 4.64%) and Akzo Nobel (up 4.60%); biggest losers were Prosus (down 4.92%), ASML (down 4.18%) and ASM International (down 3.83%).
  • Market breadth was mixed with 52 advancers, 46 decliners and 11 unchanged; AEX Volatility was steady at 21.09.

Netherlands stocks ended Wednesday's session in negative territory, with the AEX finishing the day down 0.37% in Amsterdam. Sector moves were led by losses in Technology, Consumer Goods and Industrials as the index closed lower.

Top performers

  • IMCD NV (AS:IMCD) was the session's strongest gainer, rising 9.92% or 7.88 points to close at 87.28.
  • Koninklijke KPN NV (AS:KPN) advanced 4.64% or 0.20 points to end the day at 4.44.
  • Akzo Nobel NV (AS:AKZO) climbed 4.60% or 2.62 points to finish at 59.56.

Largest decliners

  • Prosus (AS:PRX) posted the biggest drop on the AEX, falling 4.92% or 2.34 points to close at 45.10.
  • ASML Holding NV (AS:ASML) declined 4.18% or 49.80 points to end the session at 1,140.60.
  • ASM International NV (AS:ASMI) was down 3.83% or 26.60 points, closing at 668.40.

On the Amsterdam Stock Exchange, advancing issues outnumbered decliners by 52 to 46, while 11 stocks finished unchanged. Notably, Koninklijke KPN NV reached a 5-year high in the session, registering a 4.64% gain or a 0.20 increase to 4.44.

Volatility and breadth

The AEX Volatility index, which reflects the implied volatility of AEX options, remained unchanged for the session at 21.09, recording a 0.00% change.

Commodities and currencies

  • Crude oil for March delivery rose 0.54% or 0.34 to $63.55 a barrel.
  • Brent oil for April delivery increased 0.70% or 0.47 to $67.80 a barrel.
  • The April Gold Futures contract fell 0.34% or 16.56 to trade at $4,918.44 a troy ounce.

Currency movements were modest. EUR/USD was effectively unchanged, recorded as a 0.09% move to 1.18, while EUR/GBP showed a 0.16% change to 0.86. The US Dollar Index Futures was up 0.18% at 97.48.

This session combined selective stock-level strength with broader sector weakness, leaving the AEX modestly lower at the close.

Risks

  • Persistent sector-level weakness in Technology, Consumer Goods and Industrials may weigh on the AEX in subsequent sessions - this primarily impacts equity investors exposed to those sectors.
  • Movements in oil and gold prices create commodity-related uncertainty for market participants and companies with input-cost or revenue exposures to these markets.
  • Currency fluctuations, evidenced by small moves in EUR/USD and EUR/GBP and a rise in the US Dollar Index Futures, introduce exchange-rate risk for exporters and importers.

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