Rate Meeting Quiets Trading
May 02, 2011
The Bel-20 Index of leading shares rose 6.88 1760.15 on moderate volume of 1.57 billion Belgian francs. The index advanced 1.95 on Monday. In the bond market, the benchmark 10-year government bond was unchanged from late Monday. Its yield stood at 6.58%, down from 6.62% on the last day of trading last week. Tuesday's most active stock was the interest-rate-sensitive electricity-utility Electrabel, which ended up 10 francs at 6,910 francs a share. Kredietbank also was active with its share regaining earlier losses to close unchanged at 9,350. Kredietbank has been under pressure since allegations of fraud emerged earlier this month at its Luxembourg-based sister company KB Luxembourg . The allegations hit KB itself when the Belgian Crown Prosecutor said it is investigating a fraudulent structure at a ``large Belgian bank.'' Both banks have denied all allegations. Meanwhile, Luxembourg-based steel maker Arbed drifted 30 francs lower to close at 3,380. Traders blamed Tuesday's loss on a poor outlook for steel prices. However, Arbed's rival, Peres Mickelson, headed 1 franc higher to 135.
VastPress 2011 Vastopolis
