NETHERLANDS DAYBOOK: ING Buys Back Securities to Repay State Aid
Stock Chart for ING Groep NV (INGA)
ING Groep NV (INGA) plans to exercise its option for early repurchase of 2 billion euros ($2.8 billion) of core tier 1 securities on May 13, as part of the repayment of support received from the Dutch state.
WHAT TO WATCH: * Dutch Prime Minister Mark Rutte said the government is doing its “utmost” to secure the release of three crew members of a Dutch Navy helicopter captured in Libya after a failed evacuation attempt.
EARNINGS: Arcadis NV (ARCAD) reported full-year profit from operations of 78.4 million euros.
EQUITY MOVERS: *Royal Vopak NV (VPK NA) has included Industrial & Commercial Bank of China in a five-year 1.2 billion-euro revolving credit facility. ArcelorMittal (MT) NV has 34% upside potential, according to JPMorgan. *Brunel International NV (BRNL NA) was raised to “buy” from “neutral” at Natixis.
MARKETS: *The Amsterdam Exchanges Index rose 0.1 percent to 367.95. *The Stoxx Europe 600 Index lost 0.6 percent to 281.90. *The Euro was at $1.3992 at 8:05 a.m. Amsterdam time. *The Dutch 10-year bond yield was 3.525 percent at 8:05 a.m.
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