Amsterdam stock exchange recovers, ends week on tech gains

The Amsterdam AEX index closed higher on Friday, recovering from a loss a day earlier, with strong gains in Adyen and Besi leading trading on the Damrak, as broader European markets in Frankfurt, Paris, and London ended lower.

The AEX rose 0.6 percent to 1,020.60 points. The MidKap fell 0.9 percent to 1,010.11 points. Frankfurt, Paris, and London lost up to 0.8 percent.

Besi climbed 4.3 percent in the main index. The semiconductor equipment supplier, which specializes in advanced semiconductor packaging, had already risen by more than 4 percent on Thursday after strong quarterly results and expectations.

Adyen gained 4.8 percent after announcing on Thursday after the close that it will acquire German company Talon. One for 750 million. With the deal, Adyen expects to expand its business from payment processing into marketing.

Other winners in the AEX included chip companies ASMI and ASML, both up more than 2 percent, and maritime services company SBM Offshore, which rose 1.4 percent. ArcelorMittal was the biggest loser in the main index, falling 2.5 percent, followed by Philips and ABN AMRO, both down as much as 1.8 percent.

In the MidKap, Fugro gained 3.8 percent. The geotechnical company also rose on Thursday after reporting results. It said the impact of the conflict in the Middle East has so far been limited to operations in the United Arab Emirates and Qatar.

Signify rose 2.3 percent in Amsterdam’s mid-cap segment. The lighting company reported lower revenue and profit in the first quarter. CEO As Tempelman cited “ongoing weakness in the markets” and said challenging conditions are expected to continue this year. The company earlier announced significant job cuts to reduce costs.