Amsterdam stock exchange rallies on Covid-19 hopes

Beursplein 5, home of the Euronext Amsterdam stock exchange
Beursplein 5, home of the Euronext Amsterdam stock exchangetupungatoDepositPhotosDeposit Photos

The Amsterdam stock exchange index, AEX, has today recovered nearly half of its losses since falling from its highs in mid-February. The rally comes as European stocks climbed for a second consecutive day as the markets began pricing in data suggesting that the spread of Covid-19 is slowly being brought under control.

The AEX jumped by almost 13 points from Monday's 489.82 close, with the price at today’s open rising sharply to 503.97. The index maintained its rally for most of the day’s trading, giving back some gains from the open to close 10 points higher (2.05 percent).

The rally suggests a glimmer of hope as beaten stocks start to show signs of recovery after a month of market volatility brought about by the Covid-19 outbreak. The AEX Index at Euronext Amsterdam fell from its 52-week high of 632.12 on February 17 to its 52-week low of 389.60, set just a month later.

With its close on Tuesday, the index has regained over 45 percent of its sell-of during the inital stage of the coronavirus pandemic. The AEX, as with stock market indexes across much of the world, has suffered one of its most volatile years on record.