Things are going to be cautious in Europe on Friday. The Euro Stoxx 50 is trading around 12.30 pm with a gain of 0.1 percent. Two ECB executives – the bankers of Finland and Lithuania – warned that they could stay longer than expected, partly because the bottlenecks in the supply lines persist. Europe is once again the epicenter of the corona pandemic.

Opposite those flat stock markets is the Bel20

in the well. The barometer is 0.8 percent lower at 4,335 points. Three stocks are the main culprits: Aperam, KBC and Umicore.

The pressure on Umicore continues on Friday: it still happens 1.6 percent to 46.08 euros. Since the record price this summer, the stock market value of the materials group has increased by 3 billion, to 11.3 billion euros (see chart).

ING list Stijn Demeesterana dropped his price target from 54 to 43 euros. He attributes this to lower estimates and lower multiples against which peers trade.

He cautiously tries ‘hold’ advice. In the short term, he sees little room for the stock to overlook the recovery of automotive supply lines, slowing growth in China and structure concerns around the cathode business’s earnings potential.

KBC Group

present better than results for the third quarter. Net profit came in at 601 million euros, which is exactly 100 million more than what analysts expected on average. Provisions for the exit from Ireland weighed 319 million euros on profit, but this was offset by the reversal of 260 million euros in provisions to cover loan losses due to the pandemic.

‘A solid set of figures’, says Jefferies, with KBC doing better than expected on all lines of the results. Analyst Floracahut notes that CEO Johan Thijs’ forecast for the whole of 2021 is unchanged for net interest income, but is slightly more positive about operating costs and commissions. She maintains her buy recommendation and price target of 83 euros.

Despite the excellent figures, the share fell by 3.1 percent to 83.30 euros. Until Friday’s opening bell, the stock had already risen 50 percent this year. After such a solid rally, the slightest disappointment can be enough to take a profit.

Maybe that’s what happens with aperam

, a share that has climbed 52 percent as of Friday morning. The stainless steel producer reported record results for the third quarter, but suffered a blow of 4.6 percent to 49.01 euros.

The second quarter, but there may be higher amounts of revenue to come out higher. The stainless steel maker beat expectations with its gross operating profit (EBITDA), operating profit and net profit. Net profit of 201 million euros was lower than in the second quarter. CEO Timoteo Di Maulo expects a slightly higher result in the fourth quarter.

This means that investors are not satisfied, possibly due to a combination of factors: lower shipments in the third quarter, slightly lower net profit than in the second quarter and rising net financial debt. There is also no extra for shareholders this time. The share buyback program announced last summer was completed in just two months and there is no ‘successor’ for the time being.

For the topper of the day we have to be in Africa today. texaf

shoots 5.7 percent higher to 33.30 euros below the company, which had published a positive update in Congolese real estate and offices. The vacancy rate mentioned in the half-year report has almost completely disappeared. This was a result of the closure of the borders to contain the spread of the corona virus.