Benelux Stocks: Ageas, Arcadis, ASML, ING Groep, KBC Groep
The AEX-Index retreated 2.23, or 0.6 percent, to 354.21 in Amsterdam, the fifth straight decline. Belgium’s Bel20 Index dropped 1.9 percent to 2,555.19.
The following are among the most active stocks in the Benelux markets today. Symbols are in parentheses.
Arcadis NV (ARCAD NA) climbed 3.4 percent to 17.42 euros, the largest gain since August. The biggest Dutch designer of bridges and dikes was rated “outperform” in new coverage at Credit Suisse Group AG.
ASML Holding NV (ASML NA) dropped 2.1 percent to 27.35 euros, the lowest price in a month. Europe’s biggest semiconductor equipment maker was cut to “reduce” from “hold” at Kepler Capital Markets SA.
ING Groep NV (INGA NA) fell 3 percent to 7.22 euros, extending the previous day’s decline. A European Union report prepared for last month’s European Council meeting said that the profit of ING’s banking unit will drop as much as 21 percent because of new bank taxes, the Financial Times reported.
ING spokesman Raymond Vermeulen said the new taxes will reduce profit by less than the EU study estimated.
Ageas (AGS BB), the insurer formerly known as Fortis, slumped 7.4 percent to 1.76 euros, its second day of declines. KBC Groep NV (KBC BB) tumbled 9.1 percent to 22.73 euros, the biggest drop since October 2009. Shares of banks and insurers across Europe slid as concern mounted that Portugal may seek a bailout.
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