2023-07-31 16:12:00
After losing more than 1% on Monday at the opening, the Bel 20 index of the Brussels Stock Exchange was expected to reduce its loss in parallel with the rebound of its heavyweight arGEN-X (457.00) which regained 0.66% then that the Brussels index ended with a decline of 0.31%, at 3,776.61 points for a positive monthly balance of 6.588%.
Leading the declines, AB InBev (52.05) and Umicore (26.92) fell by 2.75 and 2.43%, the increases being led by Barco (21.18) and Galapagos (38.08) with better than 2.82 and 2.15%. UCB (80.52) was ultimately 1% positive and Solvay (109.10) 0.46% negative, KBC (68.40) falling 0.58% while Ageas (38.53) narrowly gained 0 .05%.
The Paris Stock Exchange gained 0.29% and the Milan Stock Exchange 0.49%. The London Stock Exchange ended close to balance (+0.07%), while the Frankfurt Stock Exchange lost 0.14% following setting a new record during the session. Over the month, the four stock markets gained between 1.3% and 5%.
Closing values on July 31 of the shares that make up the Bel 20 on the Brussels Stock Exchange:
AB InBev – 52,05 (53,52)
Ackermans – 158.40 (158.60)
Building + 62.50 (61.90)
Ageas + 38.53 (38.51)
Open – 28.72 (28.74)
arGEN-X + 457,00 (454,00)
Barco + 21,18 (20,60)
Cofinimmo + 71,20 (71,10)
D’Ieteren – 158.70 (159.80)
Elia + 111,90 (111,80)
Galapagos + 38,08 (37,28)
GBL – 73,54 (73,90)
KBC – 68,40 (68,80)
Melexis + 97.90 (96.70)
Next – 6.97 (7.04)
Ears + 216.20 (215.60)
Solvay – 109,10 (109,60)
UCB + 80,52 (79,72)
Umicore – 26,92 (27,59)
WDP – 26.88 (27.18)
Broker reviews for Barco, WDP and Aperam:
Barco (+2.8% to 21.18 euros) was confirmed to “buy” at KBC Securities, the target being adjusted from 32 to 30.5 euros. Despite the record turnover achieved during the first half of the year, the share price plunged due to the health problems encountered by CEO Charles Beauduin. “This reaction is exaggerated, and the leaders took the opportunity to buy back shares”. The broker kept the imaging group in its list of preferred stocks for the Benelux.
WDP (-1.1% to 26.88 euros) saw its target drop from 29 to 28 euros at Kepler Cheuvreux following the publication of results for the first quarter, with an opinion set to “keep”. The analyst points out that the figures did not contain any surprises. “After bottoming out in the first half of 2023, intrinsic value is unlikely to recover quickly.” For its part, JPMorgan Cazenove lowered its opinion from “neutral” to “sell”, with an adjusted target to 26.5 euros.
Aperam (-0.1% to 28.72 euros) suffered several downward revisions to its targets, from 31 to 29 euros for Oddo BHF (“underperform”), from 30 to 28 euros at Barclays (“underweight “) and from 48 to 47 euros at Deutsche Bank (“buy”). At the latter broker, the analyst points out that the group has to deal with weak demand and prices, but that these factors have already been largely incorporated into the price. “The European stainless steel market has probably bottomed out.”
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