AEX closes 1.3% higher at 1,136.29 as US election result lifts sentiment
Published on 11/04/2026 at 18:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSUS election result sets the tone
- The AEX closed Wednesday at 1,136.29 points, up 1.3 percent.
- Investors welcomed the Democratic midterm victory and President Donald Trump's stated willingness to accept the result and work with Democrats.
- Wolters Kluwer, Ahold Delhaize, ING and ABN AMRO were among the stronger large-cap performers, while semiconductor stocks lagged.
- At the Amsterdam close, the S&P 500 and Nasdaq were trading higher in the United States.
The AEX closed Wednesday, November 4, 2026, at 1,136.29 points, according to IEX. The Dutch benchmark gained 1.3 percent in the completed Amsterdam session, recovering from the previous day's decline.
Election result supports risk appetite
The main market focus was the US midterm election result, in which Democrats won majorities in both chambers of Congress. Investors were also reassured by President Donald Trump indicating that he would accept the result and was open to cooperation with Democrats. That combination helped improve sentiment across European equities.
Economists at ING, cited by IEX, said the result could lead to more congressional hearings involving the artificial-intelligence and technology sectors. They also noted that Democratic local leaders could seek to slow the construction of data centers in their districts. For investors, that adds a policy consideration for parts of the technology and infrastructure complex, even as the immediate market reaction was positive.
Financials and company updates in focus
Financial stocks were among the strongest areas of the AEX. ING and ABN AMRO gained almost 5 percent, while the broader European banking sector also performed well. ABN AMRO additionally benefited from a court ruling related to its contribution to a European bank resolution fund, although the outcome is expected to reduce net profit by about 33 million euro.
Company results also shaped individual moves. Wolters Kluwer rose 6.7 percent after its update, and Ahold Delhaize advanced 6.6 percent after reporting figures that exceeded expectations. DSM-Firmenich recovered from an initial decline after its quarterly figures and finished 1.7 percent higher.
Semiconductors remain a weak spot
Chip stocks lagged despite the broader advance. ASMI was the weakest AEX performer, falling 5.1 percent. The market remained uncertain about the implications of the Democratic election victory for technology companies, according to the cited market report. The contrast between gains in financials and pressure on semiconductor names left the index dependent on a relatively narrow group of large-cap winners.
At the end of the Amsterdam trading day, the S&P 500 was up 1.7 percent and the Nasdaq 1.9 percent, according to IEX. In Europe, inflation and slowing services growth remained relevant macroeconomic themes: preliminary figures indicated Dutch inflation of 3.3 percent in October, while eurozone inflation rose from 3.8 to 4.0 percent. The eurozone services purchasing managers' index fell to 51.4, its lowest level in four months.
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