Brussels shares close slightly higher, Bekaert leads as KBC ups tgt price UPDATE |
|
|
|
Published
:
Wed, 21 Mar 2007 18:20
|
(Updates with full report)BRUSSELS (AFX) - Shares closed marginally stronger as metals group Bekaert led the index higher after KBC Securities increased its target price to 100 eur from 95, traders said.The Bel 20 closed up 8.51 points or 0.19 pct at 4382.26.Bekaert was up 1.28 eur or 1.34 pct at 96.47. 'Bekaert remains committed to optimising its balance sheet,' said KBC Securities analyst Wouter Vanderhaegen, who also praised the group's share buyback scheme.He kept his 'accumulate' rating on the stock and increased his target price to 100 eur from 95.Specialty materials group Umicore rose 0.12 eur or 0.09 pct to 130.97.For the heavyweight financials, KBC and Fortis were up 0.18 eur or 0.20 pct at 89.58 and 0.09 eur or 0.28 pct at 32.25 respectively.Fortis said its divisions Fortis Real Estate and FIB Properties, along with Societe Financiere de l'Etoile and Societe de l'Etoile, will take a stake in real estate group Agridec at around 204 eur per share, subject to regulatory approval.Peer Dexia was up after a sharp fall yesterday, closing 0.04 eur or 0.19 pct higher at 21.66.UCB fell 0.07 eur or 0.15 pct to 47.41 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 0.01 eur or 0.03 pct at 33.79, and brewing giant Inbev fell 0.26 eur or 0.47 pct to 54.72.Outside the Bel 20, publishing group Roularta was up 0.15 eur or 0.24 pct at 62.00 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.frances.robinson@afxnews.comfr/jlc/fr/jlcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.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.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
|
|
Print this Story
Brussels shares AFX at a glance outlook 