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Belgian shares end lower

BRUSSELS: Belgian shares endured a traditional round of profit-taking on the last day of the forward market account to end lower, but dealers said the overall mood was still positive.

The Bel-20 index of leading shares closed 6.41 points, or 0.43 percent, lower at 1,484.98 on a volume of about 1.56 billion francs.

Dealers anticipated a slightly firmer opening tomorrow if Wall Street did not post any major losses overnight.

Growth stocks such as UCB bucked the negative trend. The chemicals group ended 300 francs firmer at 32,450.

One dealer said of an estimate, issued by him earlier, that UCB would reach 36,000 in the next nine months, "that target may now reached sooner than within that period."

Another trader, who planned to take profits on UCB, was optimistic the firm would see accelerated growth, especially once the U.S. okays Zyrtec, UCB's star anti-allergy drug.

Zyrtec is awaiting final approval by the Food and Drug Administration before it can be marketed in the United States.

Electronics firm Barco, which has soared in recent days, suffered profit-taking to end 1.7 percent lower at 3,250 francs.

Trade was suspended in Banque Indosuez Belgium on the Brussels cash market. The share was last quoted at 1,785 francs.

Its French parent, merchant bank Banque Indosuez, later announced it had agreed with Plouvier & Kreglinger SA and Cofina SA to buy their total 24.83 percent stake in Indosuez Belgium for 3,050 Belgian francs per share.

Dealers said they were closely watching how Suez unit and Belgian holding company Societe Generale de Belgique would react to the announcement. The holding company closed 20 francs lower at 2,280.-Reuter