AEX closes at record as European markets end week higher

The AEX closed at a record 1,142.88 points on Friday, rising 0.9% and surpassing the previous closing high set on Wednesday, when the Dutch benchmark ended at 1,137.09. European markets also finished the week higher after a turbulent stretch in which technology and AI-related shares first fell and later recovered some ground, according to ANP [1].

ASML gained 0.9%, recovering after a decline on Thursday. ANP said the chip-equipment maker was helped by reassuring remarks from Nvidia chief executive Jensen Huang, who dismissed concerns about financing at data-centre company CoreWeave. Other Dutch chip firms lagged: BE Semiconductor Industries fell 4.8% and ASM International dropped 1.7%.

ING and ABN Amro rose more than 1.5% and 1.9% respectively, after US investment bank Keefe, Bruyette & Woods added both to its buy list. Universal Music Group was the AEX’s strongest riser, up 4.3%.

The mid-cap AEX index rose 1.2%. Defence companies CSG and Theon gained 5% and 1.9%, while construction firms BAM and Heijmans rose 2.6% and 3.3% on the day the Dutch government announced an additional €18bn for maintaining and renewing roads, bridges, railways and waterways, ANP reported. In Frankfurt, the main index climbed 1%; London and Paris were up by as much as 0.4%.

Ahold Delhaize, the owner of Albert Heijn, rose 0.4%. The supermarket chain said deliveries had resumed after a cyber-security incident, though some shops still had empty shelves on Friday morning. The company had not yet disclosed what had happened, according to ANP [1].