AMSTERDAM (Thomson Financial) - Shares in Amsterdam were higher in quiet midday trade led by oils and heartened by positive U.S. futures.
At 1:07 p.m., the AEX was up 3.35 points or 0.68 percent at 493.25 after opening at 492.36 and trading in the range 491.12 to 493.85.
Government bonds traded mainly higher, while the euro stood at 1.5458 against the U.S. dollar from 1.5481 late yesterday.
Heavyweight oil stock Royal Dutch Shell lifted 2.25 percent to 26.53 and SBM Offshore put on 3.06 percent to 26.25 as oil prices rose above $125 a barrel.
TNT rose 1.50 percent to 25.73 as investors welcomed reports the Dutch parliament is in favour of liberalisation of the domestic postal market from July 1, removing some of the uncertainty around the stock.
Among financials, Aegon added 1.18 percent at 10.27, Fortis strengthened 0.41 percent to 17.07 and ING went 0.18 percent higher to 25.74.
Among tech-related issues, Philips rose 1.05 percent to 24.94 after the company said it expects its healthcare operations to outperform the market, anticipating the division to report 6 to 8 percent annual sales growth in the 2009 to 2010 period. SNS Securities called the statement 'positive', implying a clear acceleration in the former Medical activity and continued solid double digit growth from Respironics. SNS rates Philips at 'buy' with a 32.50 euro price target.
ASML was up 0.47 percent to 19.43 and midcapper ASMI lifted 2.44 percent to 17.19 amid the ASMI Foundation saying it is confident of winning a court case against British fund Hermes over its poison pill tactics to defend ASMI from shareholder activism.
Gainers on the midcap were led by AMG, up 6.32 percent to 58.34.
Boskalis was 3.35 percent higher to 41.99 euros as more analysts welcomed yesterday's upbeat trading update.
Local issue Aalberts added 0.50 percent at 14.10 after the company agreed to acquire Zawgaz, a Polish company which specialises in producing steel ball valves, for an undisclosed sum.
Decliners on the AEX were led by Unibail-Rodamco, off 0.42 percent to 169.90.
Among midcappers, Heijmans continued to suffer, falling 4.70 percent to 21.27 amid downgrades from SNS Securities and Rabo Securities following Thursday's profit warning, with investors ignoring a contract win worth about 240 million euros.
Crucell was off 2.34 percent to 12.51 after ING initiated coverage of the issue at 'sell' with an 11.70 euro price target.
Local issue Eurocommercial Properties lost 1.13 percent to 37.47 after the company reported an improved direct investment result over the nine-months of its calendar year until March 31, 2008, but saw its indirect investment result fall 49 percent. Cornelia Messing; cornelia.messing@thomsonreuters.com cmm/vlb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
At 1:07 p.m., the AEX was up 3.35 points or 0.68 percent at 493.25 after opening at 492.36 and trading in the range 491.12 to 493.85.
Government bonds traded mainly higher, while the euro stood at 1.5458 against the U.S. dollar from 1.5481 late yesterday.
Heavyweight oil stock Royal Dutch Shell lifted 2.25 percent to 26.53 and SBM Offshore put on 3.06 percent to 26.25 as oil prices rose above $125 a barrel.
TNT rose 1.50 percent to 25.73 as investors welcomed reports the Dutch parliament is in favour of liberalisation of the domestic postal market from July 1, removing some of the uncertainty around the stock.
Among financials, Aegon added 1.18 percent at 10.27, Fortis strengthened 0.41 percent to 17.07 and ING went 0.18 percent higher to 25.74.
Among tech-related issues, Philips rose 1.05 percent to 24.94 after the company said it expects its healthcare operations to outperform the market, anticipating the division to report 6 to 8 percent annual sales growth in the 2009 to 2010 period. SNS Securities called the statement 'positive', implying a clear acceleration in the former Medical activity and continued solid double digit growth from Respironics. SNS rates Philips at 'buy' with a 32.50 euro price target.
ASML was up 0.47 percent to 19.43 and midcapper ASMI lifted 2.44 percent to 17.19 amid the ASMI Foundation saying it is confident of winning a court case against British fund Hermes over its poison pill tactics to defend ASMI from shareholder activism.
Gainers on the midcap were led by AMG, up 6.32 percent to 58.34.
Boskalis was 3.35 percent higher to 41.99 euros as more analysts welcomed yesterday's upbeat trading update.
Local issue Aalberts added 0.50 percent at 14.10 after the company agreed to acquire Zawgaz, a Polish company which specialises in producing steel ball valves, for an undisclosed sum.
Decliners on the AEX were led by Unibail-Rodamco, off 0.42 percent to 169.90.
Among midcappers, Heijmans continued to suffer, falling 4.70 percent to 21.27 amid downgrades from SNS Securities and Rabo Securities following Thursday's profit warning, with investors ignoring a contract win worth about 240 million euros.
Crucell was off 2.34 percent to 12.51 after ING initiated coverage of the issue at 'sell' with an 11.70 euro price target.
Local issue Eurocommercial Properties lost 1.13 percent to 37.47 after the company reported an improved direct investment result over the nine-months of its calendar year until March 31, 2008, but saw its indirect investment result fall 49 percent. Cornelia Messing; cornelia.messing@thomsonreuters.com cmm/vlb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
