Stock Markets February 23, 2026

Belgian equities slip as healthcare, consumer goods and industrials weigh on market - BEL 20 down 0.88%

Decliners outnumber advancers as select large-caps post mixed results; commodities and FX show varied intraday moves

By Jordan Park
Belgian equities slip as healthcare, consumer goods and industrials weigh on market - BEL 20 down 0.88%

Belgian stocks closed lower on Monday with the BEL 20 index ending the session down 0.88%. Losses were concentrated in the Healthcare, Consumer Goods and Industrials sectors. Market breadth in Brussels favored decliners, with 60 stocks falling, 36 advancing and 9 unchanged. Notable movers included gains in Anheuser Busch Inbev, KBC Groep and Elia, while Umicore, Azelis Corporate Services and Argen-X recorded the steepest declines. Commodities and currency markets recorded mixed shifts, including a notable rise in April gold futures.

Key Points

  • BEL 20 closed down 0.88% after trading on Monday, led lower by Healthcare, Consumer Goods and Industrials.
  • Market breadth in Brussels favored decliners - 60 stocks fell, 36 advanced and 9 ended unchanged.
  • Top gainers included Anheuser Busch Inbev (EBR:ABI), KBC Groep (EBR:KBC) and Elia (EBR:ELI), while Umicore (EBR:UMI), Azelis (EBR:AZE) and Argen-X (EBR:ARGX) were the largest fallers.

Belgian equities finished lower after trading on Monday, with the benchmark BEL 20 index closing down 0.88% in Brussels. Sector-level weakness in Healthcare, Consumer Goods and Industrials contributed to the downward pressure on the index.

By the close, market breadth showed more falling stocks than advancing ones on the Brussels exchange: 60 shares declined, 36 rose and 9 finished flat.

Top and bottom movers

Among the strongest performers on the BEL 20, Anheuser Busch Inbev SA NV (EBR:ABI) led gains, rising 1.26% or 0.84 points to finish at 67.76. KBC Groep NV (EBR:KBC) added 1.07% or 1.25 points to close at 117.90, and Elia (EBR:ELI) advanced 0.37% or 0.50 points to end at 135.50.

On the downside, Umicore SA (EBR:UMI) posted the largest drop, falling 6.94% or 1.27 points to close at 17.04. Azelis Corporate Services NV (EBR:AZE) decreased 5.86% or 0.52 points to 8.36, while Argen-X (EBR:ARGX) was down 2.60% or 18.80 points to 703.60.

Elia's late-session move took the stock to a three-year high, as it rose 0.37% or 0.50 to 135.50.


Commodities and currencies

In commodity markets, April gold futures climbed 2.98% or 151.29 to $5,232.19 a troy ounce. Crude oil for April delivery edged lower, falling 0.12% or 0.08 to $66.40 a barrel. The May Brent contract also slipped 0.13% or 0.09 to trade at $71.21 a barrel.

Currency pairs and dollar measures moved modestly: EUR/USD was unchanged 0.20% to 1.18, EUR/GBP was unchanged 0.05% to 0.87, and the US Dollar Index Futures was down 0.23% at 97.50.


Promotional note contained in the session bulletin

The bulletin included a product promotion describing an AI-driven stock selection service. The note stated that year-to-date, two out of three global portfolios from the service were outperforming their benchmarks, with 88% of portfolios in positive territory. It also reported that the flagship Tech Titans strategy doubled the S&P 500 within 18 months and cited specific past winners, naming Super Micro Computer with a return of +185% and AppLovin with +157%.

That promotional section concluded by inviting readers to consider AI-assisted stock selection for future trades.

Risks

  • Concentration of losses in Healthcare, Consumer Goods and Industrials could pressure related sector stocks and earnings - these sectors may face near-term downside.
  • Significant declines in individual large-caps such as Umicore and Azelis introduce company-specific volatility that can affect index performance and investor sentiment in materials and industrials.
  • Mixed moves in commodities and currencies, including a sharp rise in April gold futures and small changes in oil and FX, create uncertainty for asset allocation decisions across commodities-sensitive sectors.

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