The Stock Exchange Bruxelles recorded its first daily increase of the week on Wednesday. The BEL20 index rebounded by 0.53% to 4,247.54 points.
The strongest increase among the values in the index was recorded by Umicore, which regained 3.21% to 11.25 euros. On Tuesday, the stock was still down 5.79%. Syensqo, who was also affected on Tuesday, also progressed smoothly. The chemical stock gained 2.01% at the closing price of 76.54 euros.
Some falls at the close among the BEL20 values
Ageas increased by 1.93% to 48.70 euros. French financial group BNP Paribas increased its stake in the insurance group to 10.91%.
Among the stocks in the index, losses were mainly suffered by ArgenX, which lost 1.38% to a closing price of 473.30 euros.
Brokers’ opinions on Melexis, Nyxoah and Solvac
Melexis (+0.07% to 71.50 euros) was confirmed to “keep” at Jefferies, the objective having been lowered from 85 to 80 euros on the occasion of the publication of a sector report. The analyst remains generally optimistic about European semiconductors, and he expects a strong increase in order books following the results for the third quarter. “We are, however, more cautious on players with high exposure to the automotive industry, such as STMicroelectronics, Melexis or Infineon.”
Nyxoah (+8.05% to 9.40 euros) recorded a drop from its target of 16.5 to 14.5 euros at Kepler Cheuvreux, with a rating maintained at “buy”. The valuation includes the capital increase announced at the start of the week. “It protects the group in principle from refinancing until the second half of 2026, and it is now well positioned for the commercial launch of Genio on the American market”, with a green light from the FDA which is expected end of 2024 / beginning of 2025.
Solvac (+2.02% to 101.00 euros) was confirmed to “buy” at KBC Securities, which raised its target from 155 to 160 euros. The analyst highlights the particularly high discount (42%) compared to the average levels posted over the last five years (23%). “We do not believe that this situation is sustainable in the long term, and the current level therefore constitutes a good opportunity to return to the file.” It also points to an attractive yield of around 4%.
On the general market
The front increased by 16.78% to 2.61 euros. Bioplastics that can be made from the company’s raw materials can now be used for food and beverage packaging in the United States.
Titan Cement increased by 1.04% to reach 33.85 euros. The cement group will install Thyssenkrupp capture units in its Kamari factory, in Greece, in order to produce 3 million tonnes of cement per year without emitting CO2.
The price of the offer on Euronav revised slightly higher
In the second row, CMB.Tech ended down 4.53% to 14.95 euros. The reference shareholder CMB complies with the decision of the FSMA to make a post-payment of $0.52, or €0.47 per share, to the shareholders of the shipping company who accepted its offer to take over their titles earlier this year.