Breaking News

Dollar Tree Agrees to Buy Family Dollar for $74.50 a Share
Tweet TWEET

Benelux Stocks: Aperam, Imtech, Option, TomTom, VastNed O/I

The Netherlands’ AEX-Index was little changed at 369.83 as of 2:58 p.m. in Amsterdam. Belgium’s Bel20 Index added 0.3 percent to 2,721.02, a second day of gains.

The following were among the most active stocks in Benelux markets today. Symbols are in parentheses.

Dutch stocks:

Aperam (APAM NA) climbed 2.5 percent to 30.84 euros, gaining for a third day. The stainless-steel producer spun off by ArcelorMittal would consider mergers in an industry that’s beset by overcapacity and surging costs, Chief Executive Officer Bernard Fontana said.

Eurocommercial Properties NV (ECMPA NA) dropped 1.7 percent to 34.11 euros, trimming Feb. 11’s rise. The Dutch owner of shopping centers in France, Italy and Sweden had its recommendation cut to “neutral” from “buy” at UBS AG.

Holland Colours NV (HOLCO NA) fell 1.1 percent to 28.68 euros, the biggest drop this month. The maker of red coloring for the wax coat on Edam cheese forecast second-half profit will be “somewhat lower” than a year earlier.

Imtech NV (IM NA), the largest Dutch technical-services company, gained 1.4 percent to 28.33 euros, rising for a second day. Imtech’s marine unit said it aims to double its revenue to 1 billion euros ($1.3 billion) by 2015.

TomTom NV (TOM2 NA), Europe’s biggest maker of personal navigation devices, or PNDs, rose 2.4 percent to 7.80 euros. Route 66 launched a mapping and navigation application for Google Inc.’s Android using TomTom’s maps.

“The Route 66 TomTom app is the first real android based app for TomTom apart from its relationships with TeleNav and HTC,” Martijn den Drijver at SNS Securities in Amsterdam wrote in a note. “The financial impact will not be material but it does suggest that TomTom could expand on the Android platform, which is gaining in strength.”

Separately, TomTom announced a new PND for the Lancia Ypsilon.

VastNed Offices/Industrial NV (VNOI NA), the Dutch property investment company, lost 6 percent to 11.87 euros, the lowest in two months, after merger talks with Nieuwe Steen Investments NV ended. Nieuwe Steen (NISTI NA), the owner of offices and shops in the Netherlands, added 2.5 percent to 15.20 euros.

Belgian stocks:

Option NV (OPTI BB) gained 3.3 percent to 62 cents. The Belgian maker of modems appointed Jan Smits as chief financial officer, replacing John Patrick Ziegler, who will step down to pursue new opportunities.

To contact the reporter on this story: Martijn van der Starre in Amsterdam at vanderstarre@bloomberg.net

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.