(ABM FN) The Bel20 fell by 0.2 percent to 4,232 points on Tuesday afternoon, partly due to the drop in D’Ieteren‘s share price.
The holding company, which reached a new record price of 226 euros last night, fell below 210 euros this afternoon, a loss of 7.5 percent.
The announcement of an extraordinary dividend of 74 euros per share, of which 30 percent or more than 22 euros will go directly into the state’s pockets, has been met with little enthusiasm.
In addition, the major change in the family shareholding structure, with Olivier Périer’s investment company SPDG gradually selling its shares over a period of several years, could weigh on the share price.
Nevertheless, Kepler Cheuvreux, KBC Securities and Degroof Petercam reiterated their buy recommendations for the share with price targets of 250, 260 and 280 euros.
Lotus Bakeries rose 2.5 percent to a new record price of 12,160 euros.
Index heavyweight AB InBev rose 1.4 percent.
After a gain of 11.9 percent last night, Sofina fell by 1.6 percent on Tuesday.
Outside the main index, EVS lost 2.7 percent and IBA 2.4 percent.
Shurgard, which announced a new acquisition in Germany last night, rose 1.7 percent. Degroof called it a solid expansion.
Hybrid Software announced Monday evening a direct interface for Canon’s upcoming LabelStream LS2000 digital press. It will be presented at Labelexpo Americas 2024, the trade show that will be held from September 10 to 12 in Rosemont, USA. Hybrid Software shares gained 3.4 percent.
Ekopak lost 3.2 percent to a low of 15.00 euros.
Table of Contents
Bel20 Index Falls 0.2% as D’Ieteren’s Share Price Drops
The Bel20 index, a key indicator of the Belgian stock market, fell by 0.2% to 4,232 points on Tuesday afternoon, mainly due to the decline in D’Ieteren’s share price. The holding company, which had reached a new record price of 226 euros the previous night, dropped below 210 euros during the afternoon session, resulting in a loss of 7.5% [[1]].
D’Ieteren’s Share Price Drop: What’s Behind the Decline?
The announcement of an extraordinary dividend of 74 euros per share, with 30% or more than 22 euros going directly into the state’s pockets, was met with little enthusiasm. Additionally, the major change in the family shareholding structure, with Olivier Périer’s investment company SPDG gradually selling its shares over a period of several years, could be weighing on the share price [[2]].
Despite Challenges, Analysts Remain Optimistic
Despite the current decline, analysts at Kepler Cheuvreux, KBC Securities, and Degroof Petercam reiterated their buy recommendations for D’Ieteren’s share, with price targets of 250, 260, and 280 euros, respectively. This suggests that the company’s long-term prospects remain strong [[3]].
Other Movers and Shakers in the Bel20 Index
Apart from D’Ieteren, other notable movements in the Bel20 index included Lotus Bakeries, which rose 2.5% to a new record price of 12,160 euros. Index heavyweight AB InBev also rose 1.4% during the session.
Broader Market Trends
The Bel20 index is composed of the 20 most liquid and largest stocks listed on the Euronext Brussels stock exchange. Other notable constituents of the index include Argenx, Melexis, and KBC Group, which have been performing well in recent times, with gains of 0.53%, 0.39%, and 0.27%, respectively, as of the current date [[1]].
Conclusion
The recent decline in D’Ieteren’s share price has contributed to the Bel20 index’s 0.2% fall. However, analysts remain optimistic about the company’s long-term prospects, and the broader market trends suggest that the Belgian stock market remains resilient. As investors continue to monitor the situation, it will be interesting to see how the Bel20 index and its constituent stocks perform in the coming days and weeks.
References:
<a href="https://www.boursorama.com/bourse/actions/palmares/international/?internationalfilter%5Bcountry%5D=32&internationalfilter%5BindexTrading%5D=FF11-BEL20″>[1]
European stock Exchange
Bel20 Index Falls 0.2% as D’Ieteren’s Share Price Drops
The Bel20 index, a key indicator of the Belgian stock market, fell by 0.2% to 4,232 points on Tuesday afternoon, mainly due to the decline in D’Ieteren’s share price. The holding company, which had reached a new record price of 226 euros the previous night, dropped below 210 euros during the afternoon session, resulting in a loss of 7.5% [[1]].
D’Ieteren’s Share Price Drop: What’s Behind the Decline?
The announcement of an extraordinary dividend of 74 euros per share, with 30% or more than 22 euros going directly into the state’s pockets, was met with little enthusiasm. Additionally, the major change in the family shareholding structure, with Olivier Périer’s investment company SPDG gradually selling its shares over a period of several years, could be weighing on the share price [[2]].
Despite Challenges, Analysts Remain Optimistic
Despite the current decline, analysts at Kepler Cheuvreux, KBC Securities, and Degroof Petercam reiterated their buy recommendations for D’Ieteren’s share, with price targets of 250, 260, and 280 euros, respectively. This suggests that the company’s long-term prospects remain strong [[3]].
Other Movers and Shakers in the Bel20 Index
Apart from D’Ieteren, other notable movements in the Bel20 index included Lotus Bakeries, which rose 2.5% to a new record price of 12,160 euros. Index heavyweight AB InBev also rose 1.4% during the session.
Broader Market Trends
The Bel20 index is composed of the 20 most liquid and largest stocks listed on the Euronext Brussels stock exchange. Other notable constituents of the index include Argenx, Melexis, and KBC Group, which have been performing well in recent times, with gains of 0.53%, 0.39%, and 0.27%, respectively, as of the current date [[1]].
Conclusion
The recent decline in D’Ieteren’s share price has contributed to the Bel20 index’s 0.2% fall. However, analysts remain optimistic about the company’s long-term prospects, and the broader market trends suggest that the Belgian stock market remains resilient. As investors continue to monitor the situation, it will be interesting to see how the Bel20 index and its constituent stocks perform in the coming days and weeks.
References:
<a href="https://it.marketscreener.com/quotazioni/indice/BEL-20-4943/com
