As expected payment processor Adyen and chemicals trading group IMCD have moved into the Dutch blue chip AEX index, replacing cable firm Altice and the former Philips lighting division Signify.

The AEX is made up of 25 shares issued by the highest ranking companies in terms of free float market capitalisation.

Adyen, which said last month it had booked net profit of €83m in the second half of 2018, a rise of 90% on the year earlier period,  has seen its share price rise nearly 39% this year. It rose 1.35% on Monday in early trading.

New in the Midkap index is fitness chain Basic Fit, which takes over the place occupied by food wholesale group Sligro.

Sligro’s demotion to the Smallcap index means window coverings group Hunter Douglas is now out of the indices altogether.