Stock Markets February 11, 2026

AEX Inches Higher as Materials, Telecoms and Oil & Gas Drive Gains

Selective sector strength lifts Amsterdam benchmark while individual large-cap swings highlight market unevenness

By Ajmal Hussain AD MT RAND
AEX Inches Higher as Materials, Telecoms and Oil & Gas Drive Gains
AD MT RAND

Netherlands equities closed higher on Wednesday, with the AEX up 0.48% as Basic Materials, Telecoms and Oil & Gas stocks led the advance. Individual names recorded sizeable moves in both directions: Koninklijke Ahold Delhaize surged to an all-time high, while Randstad plunged to five-year lows. Market breadth was negative overall as commodities and currencies showed mixed moves.

Key Points

  • AEX closed up 0.48% as Basic Materials, Telecoms and Oil & Gas stocks led gains.
  • Koninklijke Ahold Delhaize NV jumped 11.55% to an all-time high at 38.72, while Randstad NV fell 10.56% to a five-year low of 27.44.
  • Market breadth was negative with 62 decliners, 33 advancers and 10 unchanged; commodities saw higher crude and Brent prices, and gold futures rose.

Netherlands stocks finished the trading session higher on Wednesday, with the AEX gaining 0.48% at the close in Amsterdam. Sector gains in Basic Materials, Telecoms and Oil & Gas provided upward momentum for the index.

Among the most notable performers, Koninklijke Ahold Delhaize NV (AS:AD) led the winners on the AEX, jumping 11.55% - a gain of 4.01 points - to close at 38.72. The move took Ahold shares to an all-time high at the session close.

Steelmaker ArcelorMittal SA (AS:MT) also posted a strong session, rising 4.70% or 2.48 points to finish at 55.24. Consumer goods group Heineken (AS:HEIN) advanced 4.40%, adding 3.28 points to end the day at 77.86.

On the downside, staffing firm Randstad NV (AS:RAND) experienced a steep decline, falling 10.56% or 3.24 points to close at 27.44, marking a five-year low for the stock. Payments company Adyen NV (AS:ADYEN) dropped 6.49%, losing 80.20 points to finish at 1,156.20, while Relx PLC (AS:REL) declined 6.18% or 1.54 points to settle at 23.38, which represented a three-year low.

Market breadth at the Amsterdam Stock Exchange was tilted toward decliners, with 62 stocks falling compared with 33 advancing; 10 stocks ended unchanged.

Other market indicators and commodity prices showed mixed movement. The AEX Volatility index, which measures the implied volatility of AEX options, was unchanged at 21.09.

In commodities, crude oil for March delivery was up 1.78% or 1.14 to $65.10 a barrel. Brent oil for April delivery rose 1.63% or 1.12 to $69.92 a barrel. The April Gold Futures contract increased 1.46% or 73.21 to trade at $5,104.21 a troy ounce.

Currency pairs and the dollar were mostly steady. EUR/USD was effectively unchanged, moving 0.08% to 1.19, while EUR/GBP was unchanged at 0.13% to 0.87. The US Dollar Index Futures ticked up 0.02% to 96.69.


For market participants, the session combined sector-led strength with pronounced stock-specific volatility. Gains in Basic Materials, Telecoms and Oil & Gas supported the AEX, while several large-cap names registered outsized moves in opposite directions.

Risks

  • Negative market breadth - more decliners (62) than advancers (33) - could signal uneven underlying strength across sectors, particularly affecting broad equity performance.
  • Large individual stock swings such as Randstad's 10.56% drop and Ahold's 11.55% surge introduce idiosyncratic risk for portfolios concentrated in those names.
  • Elevated moves in commodities and relatively unchanged volatility (AEX Volatility at 21.09) reflect ongoing uncertainty that could impact commodity-linked and export-oriented sectors.

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