(ABM FN) The Brussels stock exchange lost some ground after a green opening on Wednesday morning. Towards the end of the morning, the Bel20 was 0.9 percent lower at 3,689.12 points, depressed by the fall in prices of Aperam and Umicore, among others.
A relief rally took place in the stock markets in recent days, thanks to good news about corona vaccines, among other things, but also the political relaxation in the United States, according to ING investment manager Simon Wiersma.
“But the unprecedented euphoria that is currently prevalent in the financial markets is a signal to be vigilant,” the market researcher warned.
CBC Bank economist Bernard Keppenne also warned that stock market optimism is not visible in the economy.
The stock markets in Europe are, according to the economist, supported by low interest rates, the interventions of the European Central Bank and the prospects for a corona vaccine.
On a macroeconomic level, it was quiet Wednesday morning.
The euro / dollar traded at 1.1899.
Gainers and fallers
In the main index, UCB took the lead with a share price gain of 1.4 percent. UBS did cut sharply in the price target for the pharmaceutical company, which went from 112.00 to 97.00 euros. The Neutral advice was retained. According to the Swiss bank, there will be no boosters until mid-2021, when bimekizumab is launched.
Aperam saw his price target increased by Degroof Petercam from 23.00 to 36.00 euros, while Deutsche Bank took the share off the buy list because the price target of 32.00 euros was reached. Degroof Petercam raised the target as Aperam recently posted strong quarterly results, but maintained the advice on Hold. The stock fell 2.0 percent.
Umicore, which rose sharply on Tuesday, fell 2.3 percent on Wednesday morning. ING lost 2.4 percent.
On the second line, Mithra won 5.0 percent. Estetrol from Mithra has been recognized by the European Medicines Agency as a so-called New Active Substance. This is good news for Mithra, according to Kepler Cheuvreux, although approval of the drug is not expected until 2021, the stock exchange house emphasized.
The quarterly update from Elia did not contain any surprises, according to Degroof Petercam. The outlook for 2020 remained unchanged, with the expected strong German performance being offset by higher development costs, the investment bank said. The share rose 2.0 percent.
A consortium of DEME and Consorzio Stabile Grandi Lavori has won a contract for the development of the Ravenna Port Hub in Italy. The contract is valued at just under 200 million euros, of which DEME will bring in between 50 and 150 million. CFE, DEME’s parent company, added 0.8 percent.
Shurgard has been granted planning permission for a new storage facility in the Paris area. The opening is expected at the end of 2021. The share won 0.6 percent.
Home Invest closed the row with a drop of 2.5 percent.
For smaller shares, Ter Beke managed to rise 6.0 percent after KBC Securities put the share on the buy list with a higher price target of 140.00 euros. According to the stock exchange, Ter Beke is benefiting from the low price for pork.
Kasper Deforche is stepping down as CEO of Wereldhave Belgium. The share rose 1.5 percent.
Bone Therapeutics fell 3.5 percent.
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