Benelux Stocks: ArcelorMittal, Arseus, Mobistar, Nieuwe Steen
The Netherlands’ AEX-Index advanced 1.1, or 0.3 percent, to 353.15 at the 5:30 p.m. close in Amsterdam, rising for a third day. Belgium’s Bel20 Index increased 0.7 percent to 2,614.85.
The following were among the most active stocks in Benelux markets today. Symbols are in parentheses.
ArcelorMittal (MT NA) advanced 0.8 percent to 29.27 euros, the highest price in seven months. The world’s largest producer of steel raised its cash offer for Canada’s Baffinland Iron Mines Corp. to C$1.25 a share and said the target company’s board supports the increased price.
Nieuwe Steen Investments NV (NISTI NA) lost 1.6 percent to 14.75 euros, the largest drop in a week. The Dutch owner of offices and shops in the Netherlands and Switzerland said it will continue merger talks with VastNed Offices/Industrial NV in January.
Arseus NV (RCUS BB) gained 4.9 percent to 10.75 euros, the largest advance since May to the highest price on record. Arseus has agreed to buy DEG, a Brazilian supplier of raw materials for pharmaceutical compounding to pharmacies in Brazil, for an undisclosed sum.
DEG, with forecast sales this year of about 25 million euros ($32.9 million), will immediately contribute to Arseus’s earnings per share.
Mobistar SA (MOBB BB) surged 3.8 percent to 47.42 euros, the biggest gain in more than seven months. Belgium’s second- biggest mobile-phone company was upgraded to “buy” at Deutsche Bank AG.
To contact the reporter on this story: Martijn van der Starre in Amsterdam at firstname.lastname@example.org.
To contact the editor responsible for this story: David Merritt at email@example.com.