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Dutch shares

finish higher

AMSTERDAM: Dutch shares sprinted ahead in late trade as an afternoon bout of intervention in support of the dollar by the US, Japan and Germany buoyed dollar sensitive stocks.

The AEX index gained 4.53 points to close at 462.51. "The intervention was a great boost for the market," said one trader. "It was a bit surprising that the Bundesbank joined in but that just adds to the positive direction," he added.

Bundesbank cooperation in the intervention was unusual, dealers said, since a stronger dollar versus the mark in the long term could spell inflation for Germany.

Dutch retailer Ahold, which earns almost half its annual turnover in the US, hit a new high for the year of 59.40 guilders after the intervention. It then dipped back slightly to end 1.40 guilders higher at 59.10 guilders.

Anglo-Dutch consumer product group Unilever, also buoyed by the dollar strength, gained 4.40 guilders or 2.15 percent to close at 209.00 guilders.

Aegon, which as around a third of its turnover in dollars, ended the session at a new high for 1995 of 58.00 guilders, 80 cents above Monday's closing level.

Corporate news sent other stocks moving, with Hunter Douglas adding 3.30 guilders to close at 82.20 guilders after it said net profit for the first half of 1995 rose by 38 percent to 50.4 million guilders.

But publisher Wegener, which earlier announced a 15 percent rise in first half net profit, bucked the market trend and shed 4.00 guilders to close at 128.50.

"The figures were not at all bad - they were what most people expected," said a dealer. "I think the fall has been a bit overdone."-Reuter