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Belgian equities end higher

BRUSSELS: A firmer start on Wall Street pushed Belgian shares to a higher close after an otherwise quiet day spent languishing at little changed levels.

The Bel-20 index finished 6.69 points or 0.45 percent higher at 1,477.11 after touching 1,479.33, and with volume a relatively light 682 million francs worth of Belgian shares.

"We ended higher on Wall Street, and there were also a few Belix baskets on the buy side," one dealer noted.

Dealers were optimistic for further gains this week though they said that any major rally would depend on continued dollar strength, encouraging corporate results or lower interest rates.

Several Belgian analysts surveyed by Reuters said they had become bullish in their short term outlook for the market from being neutral last week, partly because the Bel-20 index had managed to hold above key support at 1,455-1,460 last week.

One highlight in a rather illiquid market was retailer Delhaize, which climbed 1.2 percent to 1,316 with 96,800 shares traded. "Delhaize had not fully reacted to the dollar's recent rise, and also seems to be expecting the dollar to rise further still," one dealer said.

Steel-maker Arbed, hit by foreign sellers recently, closed 0.2 percent higher at 4,060.

"There's one big foreign seller around in Arbed but today we've seen institutional buying -- most people think it is a buying opportunity," the dealer added.

Another dealer said the prospects for shares in dollar sensitive Union Miniere were good too, but added that there were "still too many sellers around to break above 2,000 francs." Shares in the non-ferrous metals firm close 10 francs up at 1,980.-Reuter