Syensqo is a major outlier on the green Brussels stock exchange

(ABM UN) While Americans go to the polls on Tuesday, the Brussels stock exchange closed in the green with a gain of 0.7 percent at 4,267.16 points.

The mood on Wall Street is also positive.

CBC Banque Chief Economist Bernard Keppenne noted that given the programs of the two candidates, some analysts believe that if Donald Trump wins, the dollar should be bought against the euro, but if Kamala Harris wins, the dollar should be sold against the yen.

“Others point out that if Trump wins, US bond yields should rise, while if Harris wins, they should fall.”

“And we can go on like this ad infinitum, just to kill time!”, the economist added.

Oil became a further 1.6 percent more expensive on Tuesday at 76 dollars per barrel Brent, after having already jumped 3 percent yesterday, in response to the news that OPEC+ will postpone its planned production increase.

“OPEC+ announced on Sunday that its members had decided to postpone by one month the increase in oil production planned for December,” Keppenne said. The reason would be the weak demand from China.

Although this announcement did increase the price of a barrel, this was quite small when zoomed out to a longer period. According to Keppenne, this is not only because demand is weaker than expected, but also because some OPEC+ countries, including Iraq and Kazakhstan, have not adhered to their quotas and have produced more than agreed.

The euro/dollar flirted with 1.09.

Risers and fallers

Within the star index, Syensqo was the star with a price gain of 7.2 percent after opening the books. The former part of Solvay reported slightly better than expected results, but again revised downwards its outlook for 2024. At the same time, the specialty chemicals group announced new efficiency measures and started a new share buyback. Degroof Petercam and KBC Securities lowered the price target for Syensqo after this avalanche of news.

Solvay, which will release figures tomorrow, gained 1.0 percent.

Melexis became 2.3 percent more expensive. The price of Argenx rose by one percent after Kepler Cheuvreux increased the price target.

UCB rose to a new record high at EUR 183.80 during the day. This morning, UCB once again raised its outlook for this year, thanks to the successful sale to Advanz Pharma of the sales rights to Atarax and Nootropil in Europe and certain countries in Latin America and Asia. UCB also reported solid performance with Bimzelx and Rystiggo. Jefferies stated that the analyst consensus can increase and the share eventually gained 0.7 percent on Tuesday to 179.45 euros.

Umicore became 0.9 percent cheaper and Azelis 1.5 percent.

Outside the main index, Shurgard rose 3.2 percent after the storage specialist reported higher revenue and profit in the third quarter, while its full-year outlook was revised upwards.

Colruyt became 1.9 percent more expensive.

Recticel lost 2.1 percent and Bois Sauvage lost 3.0 percent, placing it at the bottom of BelMid.

Among the small caps, Wereldhave gained 2.1 percent, while What’s Cooking rose 2.3 percent. Hyloris became 3.6 percent cheaper.

Door: ABM Financial News.

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Bron: ABM Financial News

ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.