Brussels shares higher in midmorning trade, led by Omega Pharma |
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Wed, 21 Mar 2007 11:22
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BRUSSELS (AFX) - Shares were higher in midmorning trade, with pharmaceutical company Omega Pharma leading the gainers, up 1.18 eur or 2.03 pct at 59.18, traders said.At 10.52 am the Bel 20 was up 8.78 points or 0.20 pct at 4,382.53.Specialty materials group Umicore rose 0.66 eur or 0.50 pct to 131.51, while steel cord manufacturer Bekaert rose 0.81 eur or 0.85 pct at 96.00.KBC analyst Wouter Vanderhaeghen increased his earnings per share estimates for 2007 on the company, commenting that EPS is 'supported by Bekaert's recent share buyback programme'.For the heavyweight financials, KBC and Fortis were up 0.80 eur or 0.89 pct at 90.20 and 0.10 eur or 0.31 pct at 32.26 respectively.Peer Dexia fell 0.05 eur or 0.23 pct to 21.57, but were off sharper lows yesterday, as analysts were negative on the Franco-Belgian bank's prospects of being a possible takeover candidate for ABN Amro, traders said.Supermarket group Delhaize rose 0.52 eur or 0.76 pct to 68.79.UCB fell 0.18 eur or 0.38 pct to 47.30 after an early morning rise, following news that the US Food & Drug Administration (FDA) has approved the Belgian pharmaceutical group's Keppra drug for the treatment of primary generalised tonic-clonic (PGTC) seizures.Among other fallers, telecoms group Belgacom was down 0.10 eur or 0.30 pct at 33.70, and brewing giant Inbev fell 0.23 eur or 0.42 pct to 54.75.Outside the Bel 20, publishing group Roularta was up 0.34 eur or 0.55 pct at 62.19 after Rabo Securities downgraded the group to 'hold' from 'buy', but upped its target price to 65 eur from 64 to reflect the expected upswing in the audiovisual media.Rabo Securities analyst Mark Dekker said that he is 'slightly more cautious for printed media' as well as the advertising market, which 'did not start particularly well in 2007'. He said this can in part be explained by 'the lacklustre French environment due to the impending presidential elections'.The group's full year results for 2006 reflect 'sound trading conditions', and resulted in increased earnings per share estimates and the target price increase, he said in a note to clients.antonia.vandevelde@thomson.comava/cmrCOPYRIGHT
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