Amsterdam  - The AEX, the main index of the Amsterdam stock exchange, continued to circle around 300 Wednesday after previously dipping to its lowest point in more than five years.

Opening at 293.66, the index initially fell to 280.52, its lowest level in more than five years.

It is also less than 60 per cent of this year's highest level, 518.27, achieved January 2.

By 1:30 pm (1130 GMT), the AEX recovered slightly to 309.44, which was still a loss of 3.01 per cent from Tuesday.

Unlike recent weeks, when financial companies had experienced the sharpest drops, Wednesday's declines were led by employment agency Randstad, shares of which dropped 7.76 per cent, and electronics manufacturer Philips, which dropped 5.95 per cent. (dpa)