(ABM FN) The Brussels stock market fell again on Friday morning. Towards the end of the morning, the Bel20 fell 0.7 percent to 3,776.42 points.
It was a fairly quiet morning, macrowise. The number of bankruptcy in Belgium halved on a monthly basis in July. On an annual basis, however, there is a double-digit increase.
Furthermore, producer prices in Germany rose even faster in July than a month earlier.
“The concerns about an energy crisis in Europe have not disappeared, but the much better than starting quarterly figures of companies give some confidence for the second half of this year,” said ING investment manager Simon Wiersma. “We see that reflected in the upward revisions to analysts’ earnings forecasts for European companies.”
“The small price movements of the past week have ensured that the volatility index fell almost 2 percent yesterday to below 20 points,” said Wiersma. “The calm has returned to the markets, an important condition for expecting a sustainable price recovery.”
Danske Bank analysts are currently looking for direction. They argue that there is currently a lot of difference about the rate at which the Federal Reserve wants to raise interest rates. “Investors are looking forward to Fed Chair Jerome Powell’s speech at the Jackson Hole symposium on Aug. 26,” said Danske Bank.
The euro/dollar is quoted at 1.0084.
Risers and Fallers
In the main index, Argenx leads the way with a price gain of 0.9 percent, while Sofina loses 3.1 percent.
In the BelMid Bois Sauvage manages to rise 2.7 percent. Shurgard also gains 2.1 percent, after strong half-year results and an outlook increase. Berenberg thinks that these new prospects are also feasible.
Montea that also came up with figures, 2.7 percent. KBC Securities sharply lowered its price target.
KBC Securities slightly raised the price target for Kinpolis. Despite this, the stock is down 3.0 percent.
For the smaller Balta shares 2.0 percent. Roularta 6.7 percent. The media company sees the half-year figures penalized as a result, while KBC Securities has actually improved its price target based on these results.
Biotalys, which also came up with figures, gains 0.8 percent.
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