AEX rises 1.1% as chip shares lift market; ABN AMRO falls
The AEX rose 1.1% on Wednesday, led by chip stocks, but ABN AMRO fell 1.4% despite reporting a more than 50% rise in quarterly net profit.
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Amsterdam’s AEX index rose 1.1% to 1,145.14 points on Wednesday, while ABN AMRO shares fell 1.4% despite the bank reporting a sharp increase in quarterly profit.
The bank’s net profit climbed by more than 50% to €940 million, largely on higher interest income. Chief executive Marguerite Bérard called it “another strong quarter”. Analysts pointed to weaker-than-expected commission income as a possible explanation for the share-price decline.
Chip stocks helped lift the wider market. ASMI gained 7% after starting a €300 million share buyback programme, while ASML and Besi rose by almost 6%. Their gains extended a recovery after steep losses in the chip sector the previous week.
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