(ABM FN) The Brussels stock exchange has recovered somewhat from Monday’s pandoering on Tuesday morning. Towards the end of the morning Tuesday, the Bel20 added 0.8 percent to 4,109.66 points. Only the biotech stocks in the main index don’t seem to want to join the party.
According to investment manager Simon Wiersma of ING, once locked up, as happens on the stock exchanges worldwide, is also healthy.
“Stock markets have been moving for the past eighteen months without a significant mid-term correction,” Wiersma said.
The profit-taking made on Monday did not mean ING’s market follower to end the trend in the stock market.
“The risk premium on equities is still very attractive. And as long as the purchased rents [rente minus inflatie] If we don’t see a sharp rise and earnings growth expectations are not sharply lowered, we see yesterday’s decline as nothing more than a temporary correction,” said Wiersma.
Furthermore, the declining economic growth, the high and the development about the policy of central banks continue according to the development.
All eyes are on Wednesday evening, when the US Federal Reserve makes a new interest rate decision. In addition, according to market experts, the central bank will not yet announce that it will start phasing out its bond purchases. That announcement won’t come until November.
“The Fed will have to play it smart not to upset the already uncertain markets,” said chief economist Bernard Keppenne of CBC Banque.
The euro/dollar was at 1.1728.
Risers and Fallers
In the main index, KBC and Solvay led the way with increases of 2.3 and 2.1 percent.
Ageas and Aperam recovered from Monday’s blows and added 1.5 and 2.0 percent.
Biotech did not place in the Bel20. Argen-x was the biggest decliner with a loss of 3.9 percent.
Galapagos announced a capital increase as a result of the exercise of subscription rights. It lost 2.2 percent.
On the second line, VGP gained 2.2 percent views, EVS Broadcast Equipment lost 2.1 percent.
Xior Student Housing has increased its footprint in Spain with the profits of a public tender procedure in Zaragoza for the development and operation of a ‘flagship’ student residence. The stock rose 1.2 percent.
In the smaller stocks, Hyloris gained 3.8 percent. The pharmaceutical company received approval for Maxigesic in South Korea and Panama. “the maxigesic IV train will continue to run at full speed”, believes KBC Securities.
Bone Therapeutics appointed Lieve Creten as interim CFO. The share traded at 1.50 euros.
Nyrstar in the first six months of 2021 saw its receivables, revenue increase and decrease. The stock lost 0.8 percent.
Source: ABM Financial News
From Beursplein 5, the editors of Financial news from ABM keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make.