Stocks Fall Despite Gains in U.S.
April 26, 2011
The Bel-20 Index of leading Belgian shares fell 1.93 to 1743.37 on volume of 835 billion Belgian francs. On Tuesday, the Bel-20 added 0.65. Traders said market activity for the rest of the week will be even quieter. Thursday is a national holiday in Belgium, and many market-watchers will likely take Friday off as well. The bond market and Belgian national bank will be closed both days. A firmer dollar helped offset potential losses and boosted dollar-sensitive stocks. Late Wednesday in Europe, the dollar was trading at 30.569 Belgian francs, up from 30.420 francs late Tuesday. The Brussels stock exchange is highly dollar-sensitive, as many index companies derive much of their overseas revenue in the U.S. currency. Non-Bel-20 stock Barco was Wednesday's volume leader, rising 60 francs to 5,150 francs a share. The share price of the electronics company has risen by some 47% since the end of last year. Barco has extensive operations in the U.S. and Asia and is very sensitive to movements in the dollar. Shares in energy holding company Tractebel gained 50 francs to 13,300 francs, while shares of Powerfin gained 5 francs to 4,460 francs. Choate said late Tuesday in Almaty, Kazakstan that it agreed to buy local electricity company Almatyenergo.
VastPress 2011 Vastopolis
