Tuesday July 15, 06:14 PM
Benelux shares close flat; Fortis heads fallers UPDATE
(Updates with full report)
BRUSSELS (Thomson Financial) - Shares in Brussels and Amsterdam closed little changed, with Belgo-Dutch bancassurance group Fortis (Amsterdam: FOO.AS
- news) heading the blue-chip fallers.
At the close, the Bel 20 was down 9.20 points or 0.29 percent to 3,168.22, while the AEX (Amsterdam: news) was up 0.01 points or 0.00 percent at 425.93.
For the Bel 20, Fortis was down 0.46 euro or 4.33 percent at 10.16 euros. The group is tapping Russian billionaire Suleiman Kerimov for a 400 million euro capital injection, the Wall Street Journal quoted people familiar with the matter as saying.
Separately, chairman Maurice Lippens said expectations at Fortis that the U.S. markets are on the verge of 'meltdown' were behind the Benelux bank's decision last week to launch a sweeping recapitalisation programme.
Peer KBC Group was down 0.62 euro or 0.87 percent at 70.53 euros. Dexia (Brussels: DEXB.BR - news) was up 0.07 euro or 0.69 percent at 10.16 euros.
Pharmaceutical group UCB was down 0.57 euro or 2.35 percent at 23.51 euros.
Brewer InBev was down 0.06 euro or 0.14 percent at 44.08 euros.
For the gainers, mobile telecoms group Mobistar (Brussels: MOBB.BR - news) was up 2.88 euros or 5.93 percent at 51.45 euros.
Suez (Paris: FR0000120529 - news) was up 0.59 euro or 1.38 percent at 43.26 euros.
Supermarket group Delhaize was up 0.02 euro or 0.05 percent at 42.75 euros.
Outside the Bel 20, Telenet (Brussels: TNETS.BR - news) was up 0.80 euro or 5.89 percent at 14.39 euros as the market welcomed the telecoms company's raised bid for peer Interkabel, which analysts predicted will be high enough to secure a deal in the face of a rival bid by Belgacom (Brussels: BELG.BR - news) .
GIMV (Brussels: GIMB.BR - news) was up 1.02 euros or 2.50 percent at 41.90 euros after the venture capital group said its Dutch unit has acquired a majority shareholding in womenswear maker Bandolera Holding, owner of the Bandolera and Not The same clothing brands.
Elia (Brussels: ELI.BR - news) was up 0.21 euro or 0.80 percent at 26.50 euros. The electricity grid operator said it has signed an agreement with Econcern unit Evelop for its Belwind wind farm.
ThromboGenics (Brussels: THR.BR - news) was down 0.16 euro or 1.81 percent at 8.68 euros. The biotech company said a phase IIb trial of its MIVI III -- microplasmin for vitreous injection -- showed that it was able to resolve the underlying disease in up to around 30 percent of eye condition patients without the need for a vitrectomy.
For the AEX, TNT (Amsterdam: TPG.AS - news) was down 2.78 percent at 21.72 euros.
TomTom (Amsterdam: TOM2.AS - news) was down 1.14 percent at 18.27 euros. Tele Atlas (Amsterdam: TAAGM.AS - news) , newly acquired by TomTom, said it has signed a five-year license agreement with Google (NASDAQ: GOOG - news) , giving the U.S. group access to Tele Atlas maps and dynamic content in more than 200 countries.
Royal Philips Electronics was down 1.12 percent at 21.61 euros NV. said it might reorganise its TV operations at Dreux in France, eliminating 279 full-time positions, but it currently has no plans to move television operations there and in Bruges to Hungary, which would result in the job loss of 400 to 500 jobs.
For the gainers, SBM Offshore (Amsterdam: SBMO.AS - news) was up 2.90 percent at 23.44 euros.
Royal KPN was up 2.25 percent at 10.90 euros. The group's shares were up in morning trade on market talk that France Telecom (Paris: FR0010560771 - news) could turn its attention to the Dutch telecom company after withdrawing its proposal to buy TeliaSonera (Stockholm: TLSN.ST - news) .
Separately, Royal KPN said on Monday its unit Getronics (Amsterdam: GTN.AS - news) will move its headquarters from July 1 to Zoetermeer from its present location in Amsterdam.
Outside the Bel 20, Imtech (Amsterdam: IM.AS - news) was up 1.08 percent at 14.93 euros after saying that it has won Belgian several orders worth a total value of 40 million euros.
Macintosh was flat at 14.00 euros. Dutch broker ING said it has lowered its share price target for Macintosh to 14.50 euros from 19.00 after the company issued a profit warning on Friday.
Royal TenCate said results at its inkjet technology unit Xennia Technology are expected to grow 'substantially' in the coming years.
Boskalis Westminster was up 1.92 percent at 34.05 euros after its shares have been upgraded to 'buy' from 'hold' at Rabo Securities on valuation grounds.
OPG was down 0.09 euro at 13.60 euros after it said it has bought Medrek, a Norwegian wholesaler specialised in medical disposables, for an undisclosed amount.
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