Benelux Stocks: Draka Holding, Galapagos, Shell, ThromboGenics
The Netherlands’ AEX-Index rose 0.62, or 0.2 percent, to 365.51 in Amsterdam, bringing the week’s gain to 1.2 percent. Belgium’s Bel20 Index gained 0.3 percent to 2,692.36.
The following were among the most active stocks in Benelux markets today. Symbols are in parentheses.
Draka Holding NV (DRAK NA) added 3.8 percent to 18.63 euros, the biggest gain since Nov. 22. Prysmian SpA, which offered to buy Draka for about 840 million euros ($1.15 billion), said 90.4 percent of the Dutch cable maker’s common shares have been tendered.
Royal Dutch Shell Plc (RDSA NA) fell 1.8 percent to 25.53 euros, extending yesterday’s 2.2 percent slump. Merrill Lynch cut its recommendation on Europe’s largest oil company to “neutral” from “buy” a day after Shell posted fourth-quarter earnings that missed analysts’ estimates.
Galapagos NV (GLPG BB) gained 2 percent to 11.86 euros, the highest price in more than two weeks. Merck & Co. returned to the Belgian drug developer worldwide rights for all assets developed in a strategic alliance, ending the partnership, and will pay 12 million euros for work completed last year.
Separately, Galapagos said 2010 revenue rose 28 percent to 137 million euros and forecast sales of at least 150 million euros this year.
ThromboGenics NV (THR BB) increased 1.3 percent to 22.73 euros, erasing yesterday’s 0.8 percent loss. The Belgian drug developer focusing on eye diseases said that Bharat Biotech International Ltd. started a late stage clinical trial for the blood-clot busting drug THR-100.
To contact the reporter on this story: Martijn van der Starre in Amsterdam at firstname.lastname@example.org.