Benelux Stocks: Aperam, Imtech, TomTom, VastNed, Eurocommercial
The following were among the most active stocks in Benelux markets today. Symbols are in parentheses.
Aperam (APAM) climbed 3.1 percent to 31 euros, gaining for a third day. The stainless-steel producer spun off by ArcelorMittal would consider mergers in an industry that’s beset by overcapacity and surging costs, Chief Executive Officer Bernard Fontana said.
Eurocommercial Properties NV (ECMPA) dropped 1.3 percent to 34.28 euros, trimming Feb. 11’s rise. The Dutch owner of shopping centers in France, Italy and Sweden had its recommendation cut to “neutral” from “buy” at UBS AG.
Holland Colours NV (HOLCO) fell 1.1 percent to 28.68 euros, the biggest drop in a month. The maker of red coloring for the wax coat on Edam cheese forecast that second-half profit will be “somewhat lower” than a year earlier.
Imtech NV (IM) , the largest Dutch technical-services company, gained 1.5 percent to 28.24 euros, rising for a second day. Imtech’s marine unit said it aims to double revenue to 1 billion euros ($1.3 billion) by 2015.
TomTom NV (TOM2) , Europe’s biggest maker of personal navigation devices, rose 1.7 percent to 7.76 euros. Route 66 launched a mapping and navigation application for Google Inc.’s Android using TomTom’s maps.
“The Route 66 TomTom app is the first real Android-based app for TomTom apart from its relationships with TeleNav and HTC,” Martijn den Drijver at SNS Securities in Amsterdam wrote in a note. “The financial impact will not be material but it does suggest that TomTom could expand on the Android platform, which is gaining in strength.”
Separately, TomTom announced a new navigation system for the Lancia Ypsilon.
VastNed Offices/Industrial NV (VNOI NA), the Dutch property investment company, lost 6.2 percent to 11.84 euros, the biggest drop since May, after merger talks with Nieuwe Steen Investments NV (NISTI) ended. Nieuwe Steen (NISTI NA), the owner of offices and shops in the Netherlands, added 1.1 percent to 15 euros.
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