The AEX index on the Amsterdam stock exchange closed Friday at a new record high of 1,130.95 points, gaining 0.9 per cent over the week to top its previous peak set on Tuesday. Steelmaker ArcelorMittal led the top flight with a 5.6 per cent surge following a buy recommendation from Swiss bank UBS, while stainless steel specialist Aperam added 4.3 per cent in the MidCap. Professional publishing groups Wolters Kluwer and RELX were also heavily in demand, climbing up to 5.2 per cent.
In contrast, semiconductor equipment makers ASML, ASMI, and Besi fell by up to 1.8 per cent in the main index after the Financial Times reported that revenue at ChatGPT owner OpenAI came in lower than expected, reviving concerns over elevated valuations in the AI sector. Telecoms operator KPN also dropped 1.8 per cent. Despite the tech drag, wider European markets posted solid gains, with bourses in London, Paris, and Frankfurt advancing up to 1.1 per cent, while the Dutch MidCap index rose 0.8 per cent to 1,054.98 points.
Among other stock movements, biotechnology firm Pharming gained 3.7 per cent in mid-cap trading, whereas Air France-KLM finished at the bottom of the list on Beursplein 5 with a 2.7 per cent loss. Outside the main indices, electric bus maker Ebusco crashed 16.5 per cent after warning that its survival remains in doubt unless emergency financing is secured within weeks. Meanwhile in Frankfurt, German carmakers BMW, Mercedes-Benz, and Volkswagen rose over 2 per cent after EU Trade Commissioner Maroš Šefčovič announced a deal with China to restrict hybrid vehicle exports, potentially halving Chinese plug-in hybrid shipments to Europe.
@anp | NEWS BRAINPORT
