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

Updated on

Feb. 28 (Bloomberg) -- The Netherlands’ benchmark AEX-Index gained 2.36, or 0.6 percent, to 369.13 at the 5:30 p.m. close in Amsterdam. The measure has risen 2.3 percent this month. Belgium’s Bel20 Index rose 0.6 percent to 2,707.09 today.

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

Dutch stocks:

Imtech NV (IM NA) gained 2.5 percent to 26.16 euros, the biggest advance in six weeks. The largest Dutch technical-services company agreed to buy Inviron for an undisclosed cash sum to expand into the U.K.

Kendrion NV (KENDR NA) increased 4.4 percent to 16.80 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 ($8.6 million) from 1.8 million euros a year earlier.

Pharming Group NV (PHARM NA) plunged 19 percent to 15.3 euro cents, the biggest decline in nine months. The Dutch drug developer and partner Santarus Inc. said the U.S. Food and Drug Administration refused to review the pair’s application to sell Rhucin as a treatment for a hereditary disorder.

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

VastNed Retail NV (VASTN NA) advanced 3.1 percent to 51.70 euros. VastNed Offices/Industrial NV (VNOI NA) jumped 5.5 percent to 12.20 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 in 2012.

Belgian stocks:

Punch International NV (PUN BB) dropped 4.2 percent to 3.21 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 for 2010.

To contact the reporter on this story: Maud van Gaal in Amsterdam at mvangaal@bloomberg.net

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

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