Benelux Stocks: Imtech, Kendrion, Pharming, Punch, VastNed O/I

The Netherlands’ benchmark AEX-Index retreated 0.42, or 0.1 percent, to 366.35 as of 10:52 a.m. local time in Amsterdam. The gauge is still on course for a 1.6 percent monthly gain. Belgium’s Bel20 Index was little changed at 2,692.98 today, heading for a 2.1 percent rise in February.

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

Dutch stocks:

Imtech NV (IM NA) gained 2.8 percent to 26.225 euros, the biggest advance since Jan. 18. The largest Dutch technical services company agreed to buy Inviron for an undisclosed amount in cash to expand in the U.K.

Kendrion NV (KENDR NA) increased 2.7 percent to 16.53 euros, rising for a third day. The maker of electromagnetic parts used in Siemens AG’s letter-sorting machines said fourth- quarter net income rose to 6.2 million euros from 1.8 million euros a year earlier.

Pharming Group NV (PHARM NA) plunged 18 percent to 15.4 cents, the most since May 28. The Dutch drug developer and partner Santarus Inc. said the U.S. Food and Drug Administration sent the companies a letter indicating their license application for Rhucin was incomplete.

KBC Groep NV cut its recommendation on the shares to “reduce” from “hold.”

VastNed Retail NV (VASTN NA) advanced 1.7 percent to 51.00 euros. VastNed Offices/Industrial NV (VNOI NA) rose 1.5 percent to 11.735 euros, ending three days of declines. The Dutch owner of shopping centers in the Netherlands, Spain, France and Belgium and VastNed O/I said they plan to end their joint management agreement as of 2012.

“Standalone” the two funds would be “easier takeover targets,” Royal Bank of Scotland Group Plc said in a note today. The move may attract renewed interest from Nieuwe Steen Investments NV for VastNed O/I, the brokerage said.

Belgian stocks:

Punch International NV (PUN BB) dropped 3 percent to 3.25 euros. The majority owner of Punch Graphix NV reported a full- year loss of 19.3 million euros and said it won’t pay a dividend over 2010.

Punch Graphix NV (PGX NA) slipped 10 percent to 3.24 euros, the most since Sept. 16, after reporting a full-year profit of 4.6 million euros. The result was hurt by a 7.9 million-euro loss on a stake in Accentis NV, the company said.

To contact the reporter on this story: Maud van Gaal in Amsterdam at

To contact the editor responsible for this story: Frank Connelly at

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