Stock Markets February 2, 2026

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.

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