Bekaert NV , the largest maker of steel cord used in tires, declined the most in five months in Brussels trading after saying Chinese demand began to slow and it will cut prices to defend against rising local competition.
Solvay SA, the chemicals maker that bought Rhodia SA last year, forecast 2012 profit that surpassed most analysts’ estimates after reporting a smaller-than- estimated drop in first-quarter earnings as prices rose.
Solvay SA , the world’s largest soda- ash maker, reported operating profit that beat analyst estimates and said reinvesting the $6.1 billion in proceeds from the sale of its drug unit remains a priority.
Solvay SA , the chemicals maker that got $6.1 billion for its drug unit a year ago, said acquisitions remain a priority and Chief Executive Officer Christian Jourquin has no concerns about his search failing because of financial discipline.
The Amsterdam Exchanges Index dropped 2.97, or 0.9 percent, to 312.58 as of 10:27 a.m. local time, a second day of declines. The measure has fallen 6.7 percent so far this year. Belgium’s Bel20 Index fell 0.9 percent to 2,438.04 today.
Bekaert NV, the world’s largest maker of steel cord for tires, fell the most in nine months in Brussels after saying the collapse of its sawing-wire business will prompt an additional writedown of the equipment.
Umicore SA, the Belgian maker of a third of all auto-catalysts, said first-half profit climbed 38 percent and record earnings from precious-metals recycling will persist in the second half because of improved supply contracts and rising investor demand for gold.