Stock Markets January 23, 2026

Dutch Equity Markets Close Slightly Lower Amid Sectoral Declines

Healthcare, Industrials, and Financial Sectors Weigh on AEX Index

By Ajmal Hussain PHG
Dutch Equity Markets Close Slightly Lower Amid Sectoral Declines
PHG

At Friday's market close in Amsterdam, the AEX index experienced a marginal decline of 0.01%, driven mainly by losses in the healthcare, industrials, and financial sectors. While some individual stocks like Magnum Ice Cream Nv and Unilever PLC registered gains, prominent players such as Adyen NV and Koninklijke Philips NV saw notable declines. Commodity prices for crude oil and gold advanced, whereas the US Dollar index futures dropped, reflecting mixed investor sentiment.

Key Points

  • The AEX index closed marginally lower by 0.01%, reflecting sectoral setbacks in healthcare, industrials, and financial industries.
  • Magnum Ice Cream Nv and Unilever PLC were among the top performers, whereas Adyen NV and Koninklijke Philips NV faced significant declines.
  • Commodity prices increased with notable gains in crude oil and gold, while the US Dollar Index futures fell, highlighting mixed market dynamics.

On Friday, the Amsterdam stock market ended the trading day with a slight downturn as the AEX index declined by 0.01%, underscoring a broadly cautious investor stance in the face of sector-specific pressures. Declines in healthcare, industrials, and financial sectors were primarily responsible for the modest reduction in the index.

Among the most successful stocks during the session, Magnum Ice Cream Nv (AS:MICCT) appreciated by 2.05%, gaining 0.29 points to settle at 14.22. Similarly, Unilever PLC (AS:ULVR) showed a positive performance, increasing 1.30% or 0.72 points to close at 56.27, and Wolters Kluwer (AS:WLSNc) also rose by 1.30%, equating to 1.08 points, ending the day at 84.38.

Conversely, notable declines were seen in key companies such as Adyen NV (AS:ADYEN), which fell 2.39% or 34.20 points, finishing at 1,396.80. Koninklijke Philips NV (AS:PHG) dropped by 2.01%, losing 0.51 points to close at 24.84, and Randstad NV (AS:RAND) declined 1.77%, a reduction of 0.52 points, ending at 28.88.

The overall market breadth showed that declining stocks outweighed advancing shares by 66 to 35 on the Amsterdam Stock Exchange, alongside 9 shares remaining unchanged. The AEX Volatility Index, which tracks the implied volatility of AEX-listed options, remained steady at 21.09, indicating no immediate changes in expected market fluctuations.

Commodity markets demonstrated upward momentum with crude oil for March delivery climbing 2.70% or $1.60 to reach $60.96 per barrel. Brent crude futures for March followed suit, rising 2.61% or $1.67 to $65.73 a barrel. Meanwhile, February gold futures increased by 1.44%, equivalent to $70.84, trading at $4,984.24 per troy ounce.

In currency markets, the Euro exchange rates remained relatively stable, with EUR/USD inching up 0.24% to 1.18 and EUR/GBP moving slightly by 0.51% to 0.87. The US Dollar Index futures declined by 0.41%, settling at 97.78, showing a slight weakening of the greenback.

Risks

  • Sectoral weakness in healthcare, industrials, and financial stocks could signal broader economic uncertainties affecting Dutch equities.
  • The declining performance of major companies such as Adyen NV and Koninklijke Philips NV may impact investor confidence and dampen market momentum.
  • Volatility in commodity prices, despite recent increases, and currency fluctuations may introduce further unpredictability in market conditions.

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