AEX

The Amsterdam AEX index opened lower on Friday, dragged down by a 3 per cent drop for chip giants ASMI, Besi, and ASML following a tech sell-off in the US and Asia. As global investors shift from tech stocks to traditional sectors ahead of the latest US jobs report, wider European markets remained mixed, while Asian tech shares suffered heavy losses. On the local market, paint maker AkzoNobel and builder Heijmans posted gains, but Air France-KLM shares fell after a downgrade by Barclays, and Heineken investors piled pressure on the brewer to appoint an external CEO.

The Amsterdam AEX index dipped slightly by 0.2 per cent to close at 1,034.93 points on the final trading day of May, despite booking an overall monthly gain of more than 2 per cent. Construction firm BAM stole the spotlight in the MidCap index, surging 16.6 per cent after broker Oddo BHF upgraded the stock to a "buy" based on improved profitability in its UK operations. Elsewhere, ABN AMRO led the main index gains following the completion of its €250 million share buyback scheme, while Heineken dropped 2.3 per cent. Meanwhile, broader markets saw slight dips in London and Paris, and oil prices slid up to 1.9 per cent on hopes of a swift end to conflict in the Middle East.

The Amsterdam benchmark AEX index hit an all-time intraday high of 1,044.63 points on Friday, driven by market optimism following comments from US officials hinting at a swift end to the conflict with Iran. Despite ongoing disputes over uranium stockpiles and the continued closure of the Strait of Hormuz—which pushed Brent crude prices up to $105.19 a barrel—European markets rallied broadly, with payment firm Adyen leading the Amsterdam gains. The morning session was further shaped by major corporate deals, including a formal €7.8 billion takeover bid for locker company InPost by a FedEx-led consortium, a €160 million European and Australian tech division sell-off by recruitment firm Randstad to LTM, and a €10.7 billion private buyout bid for Italian pharmaceutical company Recordati by a consortium led by CVC.

The AEX index opened lower on Friday as investors paused to catch their breath following a significant two-day rally. Market sentiment remains cautious as the world awaits concrete details from the summit in Beijing between US President Donald Trump and Chinese leader Xi Jinping. Despite Trump’s optimistic talk of "fantastic trade deals" and potential cooperation regarding oil and the Strait of Hormuz, the lack of specific particulars—coupled with rising tensions over Iran—led the Amsterdam benchmark to dip 0.9 per cent to 1,012.60 points in early trading.

The AEX index fell further on Friday morning, dropping 0.6 per cent to 1,013.32 points as a fragile ceasefire between the United States and Iran appeared to buckle. This latest decline follows a 1.2 per cent slump on Thursday, marking a sharp retreat for Amsterdam’s blue-chip stocks after they reached a new closing record just two days ago. Market sentiment turned defensive as investors weighed conflicting reports from Washington and Tehran: while the US military confirmed retaliatory strikes and Iran threatened to respond "vigorously and without hesitation," President Donald Trump maintained the truce was still in effect despite Iranian accusations of ceasefire violations in civilian areas.

The Amsterdam AEX index closed 0.6% higher on Friday, reaching 1,020.60 points as investors rallied behind the tech and chip sectors. Key performers included Besi, which climbed 4.3% following strong quarterly results, and Adyen, which rose 4.8% after announcing a €750 million acquisition of German firm Talon.One. While broader European markets struggled and the MidKap index dipped, significant gains from chip giants ASML and ASMI helped the Dutch blue-chip index bounce back from earlier losses.

European chip stocks declined after Google unveiled a new technology that could reduce demand for memory. Despite this, broader markets in Amsterdam and across Europe ended the day higher. Oil prices and geopolitical tensions also remained in focus.

Stocks in Amsterdam fell for a second day as tensions in the Middle East weighed on investor sentiment, while oil prices continued to climb. Concerns over supply disruptions in the Strait of Hormuz added to market pressure. Meanwhile, merger talks in the drinks industry lifted shares in Paris.