Brussels closes higher | Beursduivel.be
(ABM FN) The Brussels stock exchange closed higher on Friday. The Bel20 gained one percent, which was just not enough for the star index to return to above 3,800 points.
In Brussels, sentiment was boosted by a flurry of corporate results, which were received positively or even very positively.
The trend in the rest of Europe was also green, especially on Thursday evening the results of Apple and Amazon turned out to be a windfall.
In addition to all corporate results, the day was also dominated by macroeconomic indicators. The successful in the eurozone was 8.9 percent in July, against 8.6 percent expected. And even exclusive energy and food at prices from 4.6 percent to 5 percent.
Growth figures were also on the menu. “Led by France, Spain and Italy, eurozone growth came in at 0.7 percent quarter on quarter,” Bernard Keppenne of CBC Banque told ABM Financial News.
However, the economist notes that growth in Germany was nil, “which caught fears of a recession”.
In the US, core PCE inflation rose to 6.8 percent in June.
Keppenne points out that it is higher than expected, “raising the question of whether or not there is a peak.”
PCE inflation is also the indicator that the Fed follows most closely in setting monetary policy, the economist added.
Oil rose sharply on Friday afternoon. Brent rose more than 4 percent and traded above $106 per tax. According to Keppenne, the huge demand for gas is also driving the demand for oil.
The euro traded at $1.02 early in the evening.
Leave the market mainly on the purchasing managers indices in the United States, which give an indication of how large companies are doing. In addition, the US jobs report on Friday is also an important point of reference.
Risers and Fallers
Within the main index, Aperam gained 9 percent. Aperam saw its profit increase in the second quarter of 2022. “The second quarter in a row of record results,” CEO Timoteo Di Maulo said in a statement. But for the current quarter, the CEO is counting on a decrease, mainly due to the headwind in Europe. Degroof Petercam lowered the price target from 59.00 to 49.00 euros, but maintains a buy recommendation for the stainless steel specialist.
Umicore’s share price rose 3.9 percent. As expected, Umicore has seen profits under pressure in the first half despite stable sales. Adjusted EBITDA fell by 21 percent to EUR 601 million, EBIT was down 26 percent to EUR 461 million. Umicore’s quarterly results delivered few surprises, though analysts issued Jefferies’ outlook a minor windfall on Friday.
WDP has forecasts for the whole of 2022 increases this morning in the half-year figures. The logistics real estate specialist expects EPRA earnings per share of 1.25 euros this year, a plus of 14 percent compared to 2021. WDP previously aimed for at least 1.20 euros. The stock rose more than 5 percent.
Proximus has completed a quarter of growth and an improved outlook for the full year. Proximus’ underlying revenue grew 4.9 percent to 1.44 billion euros. This is more than the analyst expectation of 1.39 billion euros. Underlying EBITDA rose only 0.9 percent to 463 million. Here, too, the analysts expect only 452 million. The stock gained 2.4 percent.
Cofinimmo claims to have performed solidly in the first half of 2022. The net profit from the core activities rose to 109 million euros in the first half of the year. It fell 2.4 percent.
Argenx lost nearly 2 percent on Thursday’s rise. Degroof Petercam has changed the price target for the biotech company from 320 to 407 euros and KBC Securities went from 340 to 400 euros.
In the BelMid, Bekaert has performed better than expected in the past six months. Bekaert reported realized turnover of 2.86 billion euros, where analysts expected 2.74 billion euros. Underlying EBIT was 283 million euros, with a margin of 9.9 percent. Last year this was 285 million euros, then good for a margin of 12.4 percent. The stock is up 9 percent.
Ontex’s results were again under pressure. Unprecedented growth pressures and revenue supply chain disruption have severely impacted our recurring EBITDA prices. and value creation once the commodities environment improves,” CEO Esther Berrozpe said in a statement. The stock gained 2.6 percent.
In the BelSmall, Qrf made more profit in the first half of 2022. Qrf recorded an EPRA profit of EUR 3.68 million, an increase of almost 14 percent. Per share this is a profit of 0.50 euros, almost an 11 percent increase. The stock rose 4.6 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.