NETHERLANDS DAYBOOK: Corporate Tax Rate Cut, Retail Sales

The Netherlands seeks to lower the corporate tax rate to 24 percent from 25 percent to attract companies and stimulate entrepreneurship, State Secretary of Finance Frans Weekers wrote in the fiscal agenda sent to parliament today.

ALL TIMES CET

WHAT TO WATCH: *Financial markets regulator AFM Chairman Hans Hoogervorst is due to present the AFM’s annual report at 10 a.m. *Dutch February retail sales probably rose 2.3 percent from a year earlier, according to the median of three estimates in a Bloomberg survey. National statistics bureau CBS releases the figures at 9:30 a.m.

EQUITY MOVERS: *ASM International NV (ASM) today will hear from the Amsterdam Court of Appeal’s Enterprise Chamber whether Hermes Focus Asset Management Europe Ltd.’s request to order an investigation into the company’s management will be honored. *Royal Philips Electronics NV (PHIA NA) extended its revolving credit facility of 1.8 billion euros by one year to 2016.

MARKETS: *The Amsterdam Exchanges Index rose 0.6 percent to 362.76. *The Stoxx Europe 600 Index gained 0.7 percent to 278.25. *The Euro was at $1.4510 at 08:25 a.m. Amsterdam time. *The Dutch 10-year bond yield was 3.692 percent at 08:25 a.m.

To contact the reporter on this story: Fred Pals in Amsterdam at fpals@bloomberg.net

To contact the editor responsible for this story: John Buckley at johnbuckley@bloomberg.net

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