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Belgian stocks end down, investors look abroad

Belgian shares ended marginally lower, with volume boosted by block trades in holding company GBL and retailers GIB and Delhaize. Dealers said a lack of news on the Brussels bourse was pushing investors to other European markets.

Bel-20 index closed 2.45 points, or 0.17 percent, lower at 1,476.49 with 2.2 billion francs of Belgian shares traded.

Dealers see index drifting between 1,470 and 1,480 over next few days.

Shipper CMB ended 4.4 percent down at 2,180 francs following release of half-year results yesterday. Seen consolidating at this level. (BACKGROUND/MARKET DETAILS FOLLOW)

BRUSSELS, Aug 23 (Reuter) - Belgian shares ended marginally weaker in a dull trading session where volume was boosted by block trades in holding GBL and retailers Delhaize and GIB.

Dealers said a lack of any substantial company news and general boredom with Belgian companies appeared to be pushing investors to more lucrative markets in London and Amsterdam.

"Brussels is under-performing and the lack of action is pushing investors away. We need a couple of takeover rumours to put back interest into the market," commented one dealer.

The Bel-20 index closed 2.45 points, or 0.17 percent, lower at 1,476.49, with 2.2 billion francs of Belgian shares traded.

Traders expected the Bel-20 to hover between 1,470 to 1,480 points over the next few days.

There were hefty block trades in Groupe Bruxelles Lambert, but dealers said they could find no reason for the trades. The share ended 1.2 percent higher at 3,770 with 194,700 shares changing hands.

"There was a big GBL seller, but that seems to be over now," said one dealer.

There were also block trades in GIB, which ended 0.5 percent lower at 1,316 francs. Its competitor Delhaize closed 0.2 percent higher, also at 1,316 francs.

Shipping firm CMB fell in the aftermath of the release of its half-year results yesterday, which were worse than expected.

The share ended 100 francs lower at 2,180 on a volume of 45,000. Dealers said they expected the share to consolidate at these levels.

"Generally, I think CMB will be an underperformer over the next few months," said one trader.

-- Sue Pleming, Brussels Newsroom, 32 2 287-6832.- Reuter