Share and bond prices rose sharply over the first 1995 half, buoyed by upbeat sentiment on the New York Stock Exchange, improved macro-economic prospects and declining interest rates. The Amsterdam EOE-Index rose from 414.47 to 432.38 points over the first half, an increase of 5%. The CBS bond index rose by the same percentage. Dutch share turnover rose to a record high in the first half: NLG177.0 bn, compared with NLG175.9 bn in the year-earlier period. On the issuing front, the admissions to listing and/or share issues of Samas Groep, ASM Lithography, Baan Company, Copeba (Compagnie Benelux Paribas) and Vendex International stole much of the limelight.
Turnover
Total turnover in June was fractionally down on the year-earlier month at NLG111.4 (114.6) bn. The June figure was also down on that of May, when total turnover amounted to NLG125.6 bn. At NLG685.5 bn, total turnover over the first 1995 half lagged marginally behind the NLG688.2 bn booked in the first half of 1994.
Issues and Launches
The issuing volume (=total new paper admitted to listing) on the share market amounted to NLG11.8 bn. Retail and services concern Vendex was the largest issuing institution, issuing NLG1.17 bn.
The volume of bond issues amounted to NLG47.7 bn (1994: NLG23.1 bn). Of this Dutch government recourse amounted to some NLG32 bn, partly through the reopening of existing bond issues, partly through the issue of new ones.
Systems automation companies higher
Of the CBS sub-indices, the best performers were financials (+7%), while local issues also rose significantly (+4.5%). With a rise of 2%, price trends among internationals lagged behind somewhat.
The stocks booking the biggest gains in the first half of 1995 were particularly to be found among systems automation companies. Increasing investor confidence in this sector is reflected in the fact that four stocks from this sector have gained more than 50% in value since the beginning of the year. High-tech companies also tended to dominate in the slightly lower echelons. Other high-fliers were actual or rumoured take-over candidates such as Credit Lyonnais Bank Nederland, Orco Bank EHCO KLM, Nutricia and Borumij Wehry. Philips Electric was also one of the high fliers with a share price gain of some 25%.
No such categories were discernible among the stocks that lost value. The bankruptcy of Van Besouw meant shares in the carpet maker fell furthest. the rescue plan for West Invest Fortress failed to prevent this company from falling more than 50% in value in the first half year.
Other major losses included companies which forecast lower profits over the current year, such as Boskalis and Smit Transformatoren.
International
Most striking in the international arena were the strong gains made by the Dow Jones index, which averaged 19%. Amsterdam's AEX Index showed it to be solidly mid- field.
For further information on the Amsterdam Exchanges NV please contact Joost Maas on +31 20.5234567 or enter a text search 'Amsterdam Stock ' and 'Business Monitor'.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Business briefing Publishing Ltd, 1997 Tel: +44 171 820 7733
Turnover
Total turnover in June was fractionally down on the year-earlier month at NLG111.4 (114.6) bn. The June figure was also down on that of May, when total turnover amounted to NLG125.6 bn. At NLG685.5 bn, total turnover over the first 1995 half lagged marginally behind the NLG688.2 bn booked in the first half of 1994.
Issues and Launches
The issuing volume (=total new paper admitted to listing) on the share market amounted to NLG11.8 bn. Retail and services concern Vendex was the largest issuing institution, issuing NLG1.17 bn.
The volume of bond issues amounted to NLG47.7 bn (1994: NLG23.1 bn). Of this Dutch government recourse amounted to some NLG32 bn, partly through the reopening of existing bond issues, partly through the issue of new ones.
Systems automation companies higher
Of the CBS sub-indices, the best performers were financials (+7%), while local issues also rose significantly (+4.5%). With a rise of 2%, price trends among internationals lagged behind somewhat.
The stocks booking the biggest gains in the first half of 1995 were particularly to be found among systems automation companies. Increasing investor confidence in this sector is reflected in the fact that four stocks from this sector have gained more than 50% in value since the beginning of the year. High-tech companies also tended to dominate in the slightly lower echelons. Other high-fliers were actual or rumoured take-over candidates such as Credit Lyonnais Bank Nederland, Orco Bank EHCO KLM, Nutricia and Borumij Wehry. Philips Electric was also one of the high fliers with a share price gain of some 25%.
No such categories were discernible among the stocks that lost value. The bankruptcy of Van Besouw meant shares in the carpet maker fell furthest. the rescue plan for West Invest Fortress failed to prevent this company from falling more than 50% in value in the first half year.
Other major losses included companies which forecast lower profits over the current year, such as Boskalis and Smit Transformatoren.
International
Most striking in the international arena were the strong gains made by the Dow Jones index, which averaged 19%. Amsterdam's AEX Index showed it to be solidly mid- field.
End -1994 30-6-1995 % change from end-'94 Amsterdam AEX 414.47 432.38 +5.0 New York DJI 3834.44 4556.10 +19.0 London FTSE100 3056.60 3314.60 +8.5 Frankfurt DAX30 2077.03 2083.92 +0.3 Paris CAC40 1894.15 1882.82 -/-0.8
For further information on the Amsterdam Exchanges NV please contact Joost Maas on +31 20.5234567 or enter a text search 'Amsterdam Stock ' and 'Business Monitor'.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Business briefing Publishing Ltd, 1997 Tel: +44 171 820 7733
