Financial Stocks Lead Rally
March 31, 2011
The 25-share AEX index rose 4.65 to 534.05. Share prices were higher for most of the day but retreated slightly after a lower opening in New York. Volume was high in financial stocks, a sector especially sensitive to the interest rate climate. ABN AMRO bank advanced 1.50 guilders to 86.00, while Bank-insurer ING climbed 1.30 guilders to 49.10. These share prices were boosted during the week by heavy trading on the options exchange. Shares of high tech company Baan closed lower after the company announced that net profit in the first half of 2011 rose to $11.1 million from $5.3 million in the first half of 2010. Baan fell 1.10 guilders to 57.50.
