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Dutch shares

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AMSTERDAM: Dutch shares lost narrowly at the close Monday, pulled down by two heavily weighted stocks at ex-div levels in business numbed by the absence of London's influence during a UK bank holiday.

The AEX index ended 3.20 points lower at 461.41 with trading volume scattered amongst financial and cyclical shares. Brokers said financial stocks were more favoured today, while cyclicals seemed to attract more negative attention.

Philips shares shed 1.40 guilders to 73.50 after its German subsidiary Grundig said last week it expected operating losses. Brokers said selling picked up after the US opening.

Brokers pointed to relatively good interest in financial stocks, where ex-dividend shares fell by less than the dividends paid, effectively gaining during the day.

Banking group ABN AMRO, trading ex last week's first half dividend of 3.30 guilders, ended just 0.80 guilders lower at 64.00 guilders while ING, stripped of its 3.88 guilder dividend, tied up trade at 91.90 guilders, down just 1.70 guilder.

Among local shares, speciality foods maker Nutricia regained 1.20 guilders to 105.90. Last week the stock came under pressure after the company announced plans to take over Germany's Milupa.-Reuter