Stock Markets February 26, 2026

Belgian Equities Slip as BEL 20 Drops 3.07% at Thursday Close

Basic Materials, Healthcare and Industrials lead declines while select stocks hit new highs amid mixed commodity and FX moves

By Avery Klein ARGX
Belgian Equities Slip as BEL 20 Drops 3.07% at Thursday Close
ARGX

Belgian stocks finished lower after the close on Thursday, with the BEL 20 index down 3.07% as losses in Basic Materials, Healthcare and Industrials weighed on the market. A handful of companies posted gains and new highs, while several large declines drove headline weakness. Commodity and currency markets showed mixed action alongside a modestly firmer dollar index.

Key Points

  • BEL 20 closed down 3.07% after losses concentrated in Basic Materials, Healthcare and Industrials.
  • Notable winners included D'Ieteren NV (+2.58%), Ackermans & Van Haaren (+1.43%, all-time high) and Groep Brussel Lambert (+1.31%, three-year high).
  • Significant declines were recorded for Syensqo SA (-30.64%), Argen-X (-8.19%) and UCB SA (-7.90%); market breadth showed 47 risers, 43 decliners and 15 unchanged.

Belgium's equity market ended the session lower on Thursday, with the benchmark BEL 20 falling 3.07% at the close in Brussels. Broad weakness in the Basic Materials, Healthcare and Industrials sectors contributed to the downward move.

Within the BEL 20, D'Ieteren NV (EBR:IETB) was among the better performers, advancing 2.58% - a gain of 4.60 points - to finish at 182.70. Ackermans & Van Haaren NV (EBR:ACKB) rose 1.43% or 4.20 points to close at 298.00, and Groep Brussel Lambert NV (EBR:GBLB) added 1.31% or 1.10 points to end the session at 85.35.

At the other end of the spectrum, Syensqo SA (EBR:SYENS) posted the steepest decline, plunging 30.64% or 24.08 points to close at 54.52. Argen-X (EBR:ARGX) fell 8.19% - a drop of 58.20 points - to finish at 652.00, while UCB SA (EBR:UCB) lost 7.90% or 21.30 points to trade at 248.40 at the close.

Market breadth on the Brussels Stock Exchange was narrowly positive in terms of issues rising versus falling, with 47 stocks higher, 43 lower and 15 unchanged.

Two BEL 20 components hit notable peaks during the session: shares of Ackermans & Van Haaren reached all-time highs, closing up 1.43% or 4.20 at 298.00, and Groep Brussel Lambert climbed to three-year highs, gaining 1.31% or 1.10 to 85.35.


Commodities and currencies showed mixed moves alongside the equity action. Gold Futures for April delivery declined 0.53% or 27.89 to $5,198.31 a troy ounce. In energy markets, crude oil for April delivery rose 1.44% or 0.94 to $66.36 a barrel, and the May Brent contract increased 1.74% or 1.23 to $71.92 a barrel.

On foreign exchange, EUR/USD was effectively flat, recorded as unchanged 0.19% to 1.18, while EUR/GBP was unchanged 0.25% to 0.87. The US Dollar Index Futures was up 0.16%, trading at 97.78.


Taken together, the session combined notable single-stock moves with broader sector pressure, producing a meaningful daily drop in the BEL 20 while some names still managed gains or multi-year highs.

Risks

  • Large single-stock moves - such as the 30.64% drop in Syensqo SA and double-digit declines in other healthcare names - can amplify index volatility and weigh on the Healthcare sector.
  • Downward pressure on the BEL 20 driven by Basic Materials and Industrials adds uncertainty for investors with exposure to those sectors.
  • Shifts in commodities and currencies - including declines in gold futures and gains in oil prices alongside a firmer dollar index - may create additional market cross-currents impacting commodity-linked industries and exporters.

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