(ABM FN) The Brussels stock exchange, like the surrounding stock exchanges, started the new trading week with optimism on Monday. Last week, the star index lost 6 percent on a weekly basis, making it one of the worst stock market weeks since June.
Towards the end of Monday morning, Bel20 recorded 1.9 percent higher at 3,222.16 points.
“Investors are apparently holding on to the positive end of Wall Street Friday evening and to new hopes for more economic support,” said ING investment manager Simon Wiersma.
Democratic Speaker of the US House of Representatives Nancy Pelosi is counting on Democrats and Republicans to agree on a stimulus package in the short term to mitigate the impact of the corona pandemic.
“[Hiermee] it gave citizens and investors a glimmer of hope for a political agreement on a new support package, ”says ING’s market expert.
Furthermore, investors remain unsettled about the possible new corona lockdowns that appear to be in the offing. CBC Bank economist Bernard Keppenne points out that everyone will want to avoid a second total lockdown.
Today’s macro agenda is sparse.
The euro / dollar was trading at 1.1641.
Gainers and fallers
The leader in the main index was Galapagos with a price increase of 4.1 percent, after its rheumatism filgotinib was approved in both the European Union and Japan last Friday. In response to the new, KBC Securities and Degroof Petercam raised their price targets to EUR 145.00 and EUR 120.00 respectively. KBC has a buy recommendation, while Degroof Petercam stuck to his Houden recommendation. The analysts had expected these approvals, and believe that the US approval remains the most important.
The only drop in the Bel20 was Colruyt with a loss of 1.6 percent.
On the second line, EVS won 2.9 percent.
Bekaert and Almasa have reached an agreement on the merger between Proalco, a subsidiary of Bekaert, and Almasa’s steel wire activities, both based in Colombia. “A small transaction”, say the analysts from KBC Securities and ING. The stock added as much as 2.7 percent.
Bois Sauvage closed the row with a decline of 1.9 percent.
In the smaller shares, Sioen rose 7.4 percent and Roularta 5.8 percent. Smartphoto, on the other hand, lost 2.1 percent.
Kiadis Pharma has entered into an agreement with the US blood bank Gulf Coast Regional Blood Center to supply universal insert for its K-NK Natural Killer cell therapy products. The share rose 2.8 percent.
ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.
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