Benelux Stocks: Ageas, Amsterdam Commodities, DSM, ING, Spyker
The following are among the most active stocks in the Benelux markets today. Symbols are in parentheses.
Amsterdam Commodities NV (ACOMO) fell 2 percent to 11.02 euros, the most in three months. The world’s largest trader of spices had its recommendation lowered to “hold” from “accumulate” at SNS Securities.
Royal DSM NV (DSM) advanced 3 percent to 44.98 euros, the highest since at least 1989. The world’s largest maker of vitamins said it isn’t considering a competitive bid for Danisco A/S, the company that agreed to be bought by DuPont yesterday. DSM currently holds a 4.95 percent stake in Danisco and would make a pretax gain of about 129 million euros ($168 million) based on DuPont’s current offer price of 665 Danish kroner a share.
ING Groep NV (INGA) , the biggest Dutch financial-services company, gained 3.7 percent to 7.62 euros, a second day of gains. BofA Merrill Lynch Global Research named ING as one of its top European insurance picks.
Spyker Cars NV (SPYKR NA) dropped 5.5 percent to 5.72 euros, after rising as much as 26 percent earlier today and gaining 33 percent yesterday. “Spyker is one of the most speculative ones in the market,” said Tom Muller, an analyst at Theodoor Gilissen Bankiers NV in Amsterdam.
Royal Ten Cate NV (KTC) rose 2.3 percent to 28.98 euros, the highest in more than three years. The Dutch supplier of fabric for flame-resistant U.S. Army uniforms said it achieved a turnover of its Defender products in the fourth quarter of about $60 million.
TNT NV (TNT NA) rose 3.4 percent to 20.30 euros, the highest since Dec. 2. The largest Dutch postal-delivery company that is spinning off its express-delivery unit was raised to “overweight” from “neutral” at HSBC Holdings Plc.
KBC Groep NV (KBC) soared 6.9 percent to 25.10 euros, the biggest jump since Dec. 1. Ageas (AGS) , the insurer formerly known as Fortis, advanced 6 percent to 1.90 euros. Shares of European banks and insurers rose amid speculation debt sales by Portugal, Spain and Italy this week are likely to prove successful, boosting investor confidence.
To contact the reporter on this story: Maud van Gaal in Amsterdam at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com