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Forbes/AFX News Limited: Amsterdam shares higher in midday trade; Shell bucks the trend

01.29.08, 6:37 AM ET

AMSTERDAM (Thomson Financial) – Shares were higher in midday deals, with Corporate Express leading the gainers as hopes of a new cut in US interest rates pushed the AEX higher, trading sources said.

At 11.54 am, the AEX was up 7.72 points or 1.76 pct at 447.04.

Meanwhile, Royal Dutch Shell (nyse: RDSA – news – people ) bucked the trend and dropped 0.41 pct to 23.47.

KBC downgraded shares in the oil services group to ‘accumulate’ from ‘hold’ and said it would review its 24.47 eur target price after the oil company publishes its fourth quarter and full year results on Thursday.

A Daily Telegraph report today sparked concern the reserves numbers could be poor, saying that the group is to delay until May publication of key data about its oil reserves that it would normally have released alongside other figures.

http://www.forbes.com/markets/feeds/afx/2008/01/29/afx4585229.html

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