Brussels has to hand in profit again
(ABM FN) The Brussels stock exchange plunged back into the red towards noon after a green opening. The Bel20 gets 0.5 percent to 4,024.24 points.
worries about Ukraine are rising again. Tom Simonts, senior financial economist at KB, points to the underlying stock markets lost about $1.3 trillion in value last week. “As a result, the natural stock markets are still trading at 134 percent of world GDP,” said Simonts.
This reflects the increased tension in Russia, land-related to the imminent monetary tightening that the central banks believe is necessary due to the high quality. French President Macron forced an agreement in principle for a US-Russia summit on Ukraine on Sunday, which will take the fuse out of the powder keg.
“That could potentially point to a way out of one of Europe’s dangerous crises and lead to cautious optimism almost everywhere,” the analyst said. Careful, because the summit is only concerned that there will be no invasion of Ukraine.
The stock markets are now losing ground, however, as the Kremlin says there are no concrete plans for a meeting between Biden and Putin.
Foreign ministers will meet, and if necessary, a meeting between the two presidents can also be arranged, Bloomberg news agency reported.
This morning, strong macroeconomic data failed to reverse the negative trend. The Eurozone’s services sector proved stronger in February, according to preliminary Markit data.
The index measuring the activity of the eurozone’s services sector stood at 55.8 in February, compared to 51.1 in January. The British services sector will also hit harder in February.
The euro/dollar is trading at 1.1364, the price for a VAT Brent oil rose by 0.9 percent.
Risers and Fallers
In the star index, the rises of Ageas and Proximus in particular, with gains of 0.7 and 0.7 percent. The number of losers in the index is significant, with Umicore and Aperam losing 2.5 and 1.6 percent.
Cofinimmo acquired a site in Castellón de la Plana in Spain, where it plans to build a residential care center. The investment budget is approximately 11 million euros. It does 1.1 percent.
Kinepolis, on the other hand, gains 2.0 percent in the strong riser today. Berenberg has changed the price target for Kinepolis from 64.00 to 70.00 euros with an unchanged buy recommendation and KBC Securities went from 70.00 to 73.50 euros, also with a buy recommendation.
Retail Estates released pre-market figures on Monday. In the third quarter, which ended on December 31, 2021, Retail Estates saw its EPRA result rise by 16.1 percent to EUR 56.2 million, or EUR 4.40 per share. It reports 0.1 percent.
To further unfold its strategic growth plan, Care Property Invest is entering the Irish healthcare real estate market. It does 1.1 percent.
Recticel has a limited 0.7 percent. Last weekend it became clear that Greiner has largely sold his stake in Recticel to Baltisse, the investment company of industrialist Filip Balcaen. Kepler Cheuvreux spoke of good news for Recticel.
Degroof Petercam lowered the price target for Ontex from 13.00 euros to 9.50 euros on Monday, but again the buy advice and points to 2023, which should bring improvement for the company. It reports 0.6 percent. Xior has taken its first steps in Poland with an investment project of more than 500 rooms. This is EUR 32, which makes the share 0.7 percent fall.
At the smaller shares Smartphoto 3.5 percent and Hybrid Software 2.2 percent. Kepler Cheuvreux lowered the price target for Celyad from 6.40 euros to 5.40 euros on Monday with an unchanged buy recommendation. “We are making passenger financial model due to the delay of a potential partnership for the first CYAD-101 with preliminary study results of the second half of 2022 to become available,” said Kepler. The stock gains 0.3 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.