Monday 19 April 2021

Amsterdam blue chip index breaks 700 point barrier after 20 years

Euronext Amsterdam. Photo: DutchNews.nl

Amsterdam’s blue chip AEX index broke the 700 point barrier on Monday morning for the first time since the internet bubble burst in September 2000.

The AEX has risen steadily since a sharp drop at the beginning of the coronavirus crisis, particularly from October.

‘Investors are positive about the post coronavirus crisis recovery,’ analyst Corné van Zijl told broadcaster NOS. ‘In addition the European central bank is keeping interest rates low.’ Tech stocks have also gained in weight in Amsterdam.

The AEX first hit 703.2 points in an intraday high on September 4, 2000 during the internet optimism boom, but had fallen to as low as 218.4 points by 2003.

To break the 20-year-old record, the AEX will have to close at over 701.56 at the end of Monday’s trading.

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