Brussels shares TFN market data at 10.43 am

Brussels shares TFN market data at 10.43 am

	Published : Thu, 23 Aug 2007 10:20 By : Agencies Print this Story

BRUSSELS (Thomson Financial) - Brussels shares TFN market data at 10.43 am:

Main index

-Bel 20 49.53 points or 1.19 pct higher at 38.44

Bel 20 gainers

-Cofinimmo rises 5.49 eur or 4.48 pct to 128.00

-Ackermans & van Haaren gains 2.73 eur or 4.11 pct at 69.23 on announcement of sale of Corn Van Loocke to Umicore.

KBC Securities' analyst Tom Simonts said the sale is a very small transaction that will only marginally add to earnings for 2007 and which should not have too much impact on the stock price.

'We do believe, however, that however small (the transaction is) this too is proof of the quality of Ackermans' overall portfolio,' he said in a note to clients.

The analyst maintained his 'buy' recommendation and 79 eur target price on the stock.

-Umicore rises 5.52 eur or 3.49 pct to 163.62 after it posted its results.

Rabo Securities analysts said the results were 'fantastic'. The broker intends to raise its price target on the stock to around 175.0 eur from 150.0 and will increase its full-year earnings per share estimate by at least 30 pct.

KBC Securities increased its target to 180.0 eur from 170.0, keeping its 'buy' recommendation.

First-half net profit rose to 191.1 mln eur from 108.1 mln last year, beating estimates of 144.0-147.0 mln.

Recurring EBIT, without including the zinc alloy activities (including the Padaeng activities), which are transferring to the group's joint venture Nyrstar with Zinifex, rose to 199.0 mln eur from 170.0 mln.

The group raised its guidance to 345-365 mln eur, without the zinc alloy activities. The target previously was 330-350 mln (a group target of 410-440 mln less 80-90 mln for Nyrstar).

The group also said it is to buy back 150 mln eur-worth of shares in the coming months.

-Colruyt up 3.06 eur or 2.04 pct to 152.76

-KBC Group 1.69 eur or 1.89 pct higher at 91.17

-Suez moves up 0.43 eur or 1.13 pct to 38.44

-InBev edges up 0.44 eur or 0.80 pct to 55.31

Bel 20 fallers

-UCB inches down 0.21 eur or 0.50 pct to 41.75

Outside the Bel 20

-Tessenderlo up 0.55 eur or 1.45 pct to 38.54; Degroof raises rating to 'hold' vs are duce' ahead of second quarter results on August 30.

Bank Degroof analyst Bernard Hanssens said since Degroof cut its rating to are duce' on June 6, the share dropped by 17 pct and is now 8 pct below its 41 eur target price, which prompted the rating change.

-Roularta gains 0.10 eur or 0.17 pct at 60.60; KBC ups rating to 'buy' from 'accumulate' on reports RTL is eyeing Flemish television channel VTM.

'In our view, a sale of VTM is not on top of the agenda as restructurings are still ongoing,' KBC analyst Kristof Samoy said in a note to clients.

The analyst said, however, that positive sector news, combined with Roularta's recent share price fall, should 'fuel fantasy' in the stock.

He left his 70 eur target price unchanged.

-Fluxys up 45.00 eur or 1.81 pct at 2,525.00 following rise in first-half net profit posted yesterday.

Degroof analyst Marc Leemans said the results were 'quite good news', maintaining his 'accumulate' rating and 2,800 eur target price.

He said that for investors looking for a low beta stock with a good dividend yield, Fluxys is a 'good idea to put some money to work'.

-Distrigas at 4,300.00 eur. The group posted 'better-than-expected' first-half results, according to analysts.

Degroof's Marc Leemans said in a note to clients that Distrigas's earnings were better than expected, despite 21.3 pct lower volumes.

He kept his 'hold' rating unchanged.

Distrigas posted, before the market opened, a drop in half-year net profit and sales due to very mild winter temperatures and lower sales to electricity producers.

First-half net profit for the group fell to 146.72 mln eur compared to 183.01 a year earlier, beating analysts' expectations of 94-129 mln eur.

Sales fell to 2.135 bln eur down from 2.617 bln, lower than analysts' forecasts of 2.231-2.451 bln.

First-half EBIT was 193.17 mln eur compared to 186.00 mln. Analysts predicted EBIT of 146-156 mln eur.

nina.chestney@thomson.com

nc/rw

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.