STOCKS NEWS EUROPE-Van de Velde rises after H1 results

Shares in Belgian luxury lingerie maker Van de Velde (VELD.BR) rise 2.3 percent, outperforming the Belgian mid-cap index .BELM after the company published first half results on Thursday evening that slightly overshot market expectations [ID:nL9444379].

"Based on yesterday's closing price, VdV trades at a significant discount to lingerie peers (c.13 percent discount on EV/EBIT 2010F) and luxury goods firms (c.30% discount on EV/EBIT 2010F)," ING analyst Sjoerd Ummels writes in a client note.

The Belgian mid-cap index trades 0.4 percent lower.

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