Stock Markets February 2, 2026 12:08 PM

AEX Closes Higher as Basic Materials, Telecoms and Financials Lead Gains

ArcelorMittal and ING hit five-year highs while oil and gold prices retreat

By Caleb Monroe
AEX Closes Higher as Basic Materials, Telecoms and Financials Lead Gains

Amsterdam's AEX index closed up 0.78% on Monday, supported by advances in Basic Materials, Telecoms and Financials. ArcelorMittal and ING Groep were among the session's top movers, both reaching five-year highs, while commodity markets saw notable declines in crude, Brent and gold prices. Currency and volatility measures showed limited movement at the close.

Key Points

  • AEX closed up 0.78%, driven by gains in Basic Materials, Telecoms and Financials.
  • ArcelorMittal SA (AS:MT) and ING Groep NV (AS:INGA) each rose to five-year highs during the session.
  • Commodities fell: March crude down to $61.85, April Brent to $66.03, and April gold futures to $4,729.79 per troy ounce.

Netherlands stocks finished higher at the close on Monday, with sector-level strength in Basic Materials, Telecoms and Financials pushing the AEX upward.

At the Amsterdam close the AEX rose 0.78%.

Top gainers on the AEX included ArcelorMittal SA (AS:MT), which climbed 3.94% - a rise of 1.81 points - to finish at 47.79. ING Groep NV (AS:INGA) added 2.14% or 0.53 points to end the session at 25.35. Koninklijke KPN NV (AS:KPN) was also among the leaders, up 1.95% or 0.08 points to 4.19.

Underperformers included CVC Capital Partners PLC (AS:CVC), which fell 1.67% or 0.25 points to close at 14.68. Magnum Ice Cream Nv (AS:MICCT) declined 0.87% or 0.13 points to 14.86, while Universal Music Group NV (AS:UMG) slipped 0.34% or 0.07 points to 20.61.

On the Amsterdam Stock Exchange, rising issues outnumbered decliners by 57 to 44, with 6 securities finishing unchanged.

Two notable share moves reached multi-year levels: ArcelorMittal SA (AS:MT) rose to a five-year high, advancing 3.94% or 1.81 points to 47.79. ING Groep NV (AS:INGA) likewise moved to a five-year high, gaining 2.14% or 0.53 points to close at 25.35.

Volatility on the AEX options market was unchanged at the close - the AEX Volatility measure was flat at 21.09.


Commodities and currencies

Energy and metals markets moved lower during the session. Crude oil for March delivery fell 5.15% or 3.36 to $61.85 a barrel. Brent oil for April delivery was down 4.75% or 3.29, settling at $66.03 a barrel. The April Gold Futures contract declined 0.32% or 15.31 to trade at $4,729.79 a troy ounce.

Currency pairs posted limited changes at the close. EUR/USD was reported at 1.18 with a 0.33% change, while EUR/GBP was at 0.86 with a 0.12% change. The US Dollar Index Futures was higher, up 0.52% to 97.36.


This session saw sector-led gains lift the AEX, supported by individual stock strength in heavyweight names, while commodity prices retreated and major currency pairs showed modest movement.

Risks

  • Declines in energy and precious metals prices may affect companies and sectors tied to commodity markets - notably Basic Materials and energy-linked businesses.
  • Currency and dollar moves, including the US Dollar Index Futures rise to 97.36, introduce exchange-rate uncertainty for export- and import-sensitive sectors.
  • Concentration of gains among a few large-cap names means index performance could be vulnerable if those stocks reverse course.

More from Stock Markets

BTS’s ARIRANG Tour Draws Fans to AMC Screens in Los Angeles Apr 11, 2026 Moscow trading ends with mixed moves as MOEX holds at one-month low Apr 11, 2026 European gas trading extends to 21 hours as LNG links deepen global price exposure Apr 11, 2026 Third Point Abandons Proxy Fight at CoStar, Sells Entire Stake Apr 10, 2026 SanDisk to Replace Atlassian in Nasdaq-100 as Index Reshuffle Takes Effect April 20 Apr 10, 2026