Stocks Ease in Quiet Trading
May 05, 2011
The 25-share AEX index lost 4.22 points to 560.73. KPN, which accounts for almost 10% of the index, was the biggest net decliner, shedding 2.10 guilders to 60.60. KPN reported that net profit in the first half rose 9% to 1.21 billion guilders, below expectations. Construction company Boskalis Westminster also reported earnings. The company's net profit fell by one third in the first half of 2011 to 27.5 million guilders. The company said it expects its second-half turnover and results to show an improvement over the first half, based on its orders at the end of the second quarter. Shares of Boskalis gained on the forecast, closing 2.20 guilders higher at 30.60 guilders. Geotechnical engineering consultancy Fugro NV closed 50 cents higher after the company announced that profit jumped to 9.6 million guilders in the first half, from 1.1 million guilders in the year-earlier period. Fugro also said it may sell its environmental services. Royal Ten Cate shares rose 1.90 guilders to 85.40. The textiles and plastics group said Friday its net profit rose 59% in the first half of the year with nearly all of its operating companies contributing to the improved results. Excluding a 4-million-guilder extraordinary reorganization charge in the first half of 2010, net profit rose around 15%. Dutch bank-insurer ING Groep NV lost 40 Dutch cents to 53.50 guilders. The company said Thursday its net profit rose 27.9% in the first half of 2011 to 1.51 billion guilders thanks to gains in both its banking and insurance activities. But it warned that second half profit growth will lag behind first half gains.
VastPress 2011 Vastopolis
