AEX ends week lower as Dutch chipmakers recover some ground

Amsterdam’s AEX closed 0.8% lower on Friday, ending at 1,120.55 points after recovering from a steeper fall earlier in the session. Dutch chipmakers were among the few shares to rise, following heavy losses a day earlier.

ASML, Besi and ASMI gained as much as 2.7%. The recovery came after a sell-off in technology shares on Thursday, amid investor concerns that US political opposition could slow the growth of artificial intelligence. Questions about whether large investments in AI will pay off have also unsettled investors.

The declines followed losses on Wall Street and a sell-off in major Asian markets. Amsterdam’s MidKap index fell 0.7% to 1,106.67 points, while markets in Frankfurt, London and Paris lost as much as 1.9%.

Air France-KLM stood out among MidKap shares, rising more than 7% for a second day after announcing quarterly results and a KLM reorganisation intended to improve the Dutch airline’s profitability.

Foundation specialist Sif was among the biggest fallers. Alongside its quarterly results, the company warned of “material uncertainty” about its ability to continue operating over the next 12 months, amid uncertainty over a large North Sea wind farm order.

A US government jobs report showed stronger-than-expected labour-market growth, helping the dollar gain about 0.8% against the euro.