Stock Markets March 19, 2026

AEX Falls Over 2% as Basic Materials, Healthcare and Industrials Lead Losses

Akzo Nobel slides to a five-year low while oil climbs and gold plunges in volatile session

By Ajmal Hussain SHEL MT
AEX Falls Over 2% as Basic Materials, Healthcare and Industrials Lead Losses
SHEL MT

Dutch stocks closed lower on Thursday, with the AEX index dropping 2.24% to a one-month low. Declines were broad-based, driven by losses in Basic Materials, Healthcare and Industrials. Akzo Nobel recorded a steep decline to five-year lows, while crude and Brent oil rose and gold futures fell sharply. Currency moves included a stronger euro against the dollar and a weaker dollar index.

Key Points

  • AEX closed down 2.24%, reaching a one-month low with broad weakness led by Basic Materials, Healthcare and Industrials.
  • Large-cap losers included Akzo Nobel (down 7.51% to 47.30, reaching five-year lows), ArcelorMittal (down 6.21%) and Prosus (down 6.01%); Shell was the top AEX gainer, slightly up.
  • Commodities diverged: crude and Brent oil rose, while April gold futures plunged; EUR/USD strengthened and the US Dollar Index Futures weakened.

Netherlands equities ended the trading day in negative territory on Thursday as sector weakness in Basic Materials, Healthcare and Industrials pulled the market lower.

At the Amsterdam close the AEX shed 2.24%, marking a fresh one-month low for the benchmark.

Market breadth was poor: decliners outnumbered advancers 82 to 17, with 4 stocks finishing unchanged. Among individual names, Shell PLC (SHEL) was the session's best performer on the AEX, edging up 0.09% to close at 40.10. Jde Peets Nv (JDEP) slipped 0.06% to 31.76, while Inpost SA (INPST) finished down 0.20% at 15.03.

The heaviest losses were concentrated among several large-cap names. Akzo Nobel NV (AKZO) plunged 7.51%, falling 3.84 points to end at 47.30, a move that pushed the stock to five-year lows. ArcelorMittal SA (MT) declined 6.21%, losing 2.83 points to close at 42.76. Prosus (PRX) also posted a substantial drop of 6.01%, or 2.59 points, finishing the session at 40.54.

Volatility measures showed little change for AEX options: the AEX Volatility index was unchanged, holding at 21.09.

Commodities exhibited notable divergence. Crude oil for May delivery rose 1.49% to $96.88 a barrel, while Brent for May delivery climbed 1.99% to $109.52 a barrel. In contrast, April Gold Futures fell sharply, down 6.29% or 307.79 points, settling at $4,588.41 a troy ounce.

Currency markets saw the euro strengthen versus the dollar, with EUR/USD up 0.76% to 1.15. EUR/GBP was recorded at 0.86 with a 0.15% reading. The US Dollar Index Futures moved lower, down 0.50% to 99.38.


Taken together, the session reflected broad investor risk-off sentiment in the Netherlands equity market, paired with rising oil prices and a pronounced drop in gold futures. The large share price falls among several major Dutch-listed companies contributed materially to the AEX's one-month low close.

Risks

  • Concentrated declines in major industrial and materials stocks could increase market downside risk for the AEX and related sectors.
  • Volatility in commodity prices, with oil rising and gold falling sharply, may add uncertainty for energy, basic materials and precious metals-linked assets.
  • Currency movements and a softer US dollar index may introduce additional FX-related uncertainty for exporters and multinational firms listed in the Netherlands.

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