AEX Hits New Record High as Oil Prices Decline

Amsterdam Stock Exchange Extends Record Run As Middle East Oil Exports Ease

The AEX-index on the Damrak extended its record closing price on Tuesday, closing 0.4 percent higher at 1,128.33 points. European markets joined the positive trend as crude oil prices declined further due to rising export volumes from the Middle East and price cuts by Saudi Arabia.

Tuesday’s gains follow a 0.6 percent increase for the Amsterdam exchange on Monday. The MidKap index rose 0.6 percent to finish at 1,075.98 points. Across major European financial centers, indexes in Paris, Frankfurt, and London posted gains of up to 0.8 percent.

Crude Prices Drop on Increased Gulf Shipments

Oil markets reacted to a looser supply picture as regional producers moved larger volumes of crude through the Strait of Hormuz. Brent oil fell 1 percent to $99.33 per barrel, while American benchmark oil dropped 0.6 percent to $88.87 per barrel. Tanker traffic through the strait has increased despite ongoing security risks tied to the Iran war.

Asian and American markets provided a strong lead-in for Tuesday’s European trading sessions. Wall Street closed higher on Monday, led by technology stocks such as Nvidia and Microsoft, while the Nasdaq climbed 1.1 percent to 27,477.31 points and the S&P 500 gained 0.7 percent to 7,773.95 points. In Tokyo, the Nikkei index rose 0.8 percent, and Hong Kong’s Hang Seng index added 0.6 percent.

Corporate Outlooks and Bond Issuance in Amsterdam

Amid the broader market advances, individual corporations released financial updates and debt plans. Aperam reaffirmed its third-quarter outlook ahead of the market open, projecting a decline in adjusted EBITDA compared to the second quarter’s 130 million euros, while expecting to clear the 90 million euro mark recorded in the first quarter. Meanwhile, Basic-Fit priced an issuance of 180 million euros in non-subordinated, unsecured floating-rate notes with a maturity of four years.

Analyst activity also shaped individual stock movements on the Damrak. Today’s Group trader Bert van der Pol pointed to price target adjustments from Barclays that raised targets for ASML and ASMI while lowering the target for Besi slightly.

Bond Yields Rise as Traders Expect Steady Interest Rates

Global bond yields remained elevated as traders evaluated monetary policy trajectories. The American ten-year Treasury yield hovered around 5.33 percent, marking its highest level since 2002, while the Japanese ten-year yield rose to 3.103 percent. Geopolitical tensions remained a factor as Iranian President Massoud Pezeshkian stated that negotiations with the United States serve no purpose.

Market pricing tracked by the CME Group FedWatch tool indicated a nearly 76 percent probability that the Federal Reserve will leave interest rates unchanged at its upcoming meeting at the end of October.