Stock Markets February 6, 2026

Belgian market edges lower as healthcare and leisure names drag index down

BEL 20 ends modestly lower as mixed sector performance contrasts with gains in select household and financial names

By Jordan Park ARGX UCB
Belgian market edges lower as healthcare and leisure names drag index down
ARGX UCB

Belgian equities closed slightly lower on Friday, with the BEL 20 slipping 0.14% as losses in Healthcare, Beverage and Travel & Leisure weighed on the benchmark. While several large-cap names finished the session higher and some reached multi-period highs, notable declines in biotech and pharmaceutical names contributed to the overall weakness. Market breadth favored gainers, and commodity prices moved higher alongside a softer US dollar.

Key Points

  • BEL 20 closed down 0.14% as losses in Healthcare, Beverage and Travel & Leisure weighed on the index.
  • Winners included Lotus Bakeries, Ackermans & Van Haaren and Ageas, with those stocks reaching 52-week, all-time and 5-year highs respectively.
  • Commodities strengthened - gold rose 1.90%, Brent and US crude climbed over 1% - while the US Dollar Index Futures eased.

Belgian shares finished the trading session in negative territory on Friday, as weakness in Healthcare, Beverage and Travel & Leisure stocks pushed the benchmark lower. At the close in Brussels, the BEL 20 index was down 0.14%.

Among individual performers, Lotus Bakeries (EBR:LOTB) led the winners on the BEL 20, adding 3.53% - a rise of 360.00 points - to finish at 10,560.00. Ackermans & Van Haaren NV (EBR:ACKB) also posted gains, climbing 2.33% or 6.00 points to close at 263.00, while Ageas (EBR:AGES) advanced 1.37% - up 0.85 points - to end the session at 63.00.

On the downside, Argen-X (EBR:ARGX) recorded the steepest fall among the BEL 20 constituents, shedding 2.85% or 20.40 points to trade at 695.60 at the close. UCB SA (EBR:UCB) declined 2.31% - a loss of 6.20 points - to finish at 262.00, and Syensqo SA (EBR:SYENS) slipped 1.92% or 1.50 points to 76.58.

Market breadth on the Brussels Stock Exchange favored advancers: 58 issues rose compared with 31 that fell, while 19 were unchanged.

Several stocks reached notable price milestones during the session. Lotus Bakeries rose to 52-week highs, advancing 3.53% or 360.00 to 10,560.00. Ackermans & Van Haaren recorded an all-time high, climbing 2.33% or 6.00 to 263.00. Ageas moved up to 5-year highs after gaining 1.37% or 0.85 to 63.00.

Commodities trading showed strength alongside the equity session. Gold Futures for April delivery were up 1.90% or 93.09, trading at $4,982.59 a troy ounce. In energy markets, crude oil for March delivery rose 1.39% or 0.88 to $64.17 a barrel, while the April Brent contract increased 1.44% or 0.97 to trade at $68.52 a barrel.

Major currency pairs were largely unchanged on the day. EUR/USD was reported unchanged at 0.30% to 1.18, and EUR/GBP was unchanged at 0.21% to 0.87. The US Dollar Index Futures moved lower, down 0.17% at 97.54.


Summary - Friday’s close in Brussels reflected a modest decline for the BEL 20 amid sector-specific weakness. Strength in select consumer and financial-related names contrasted with losses in healthcare and pharmaceutical-related stocks, while commodities posted gains and the dollar retreated slightly in futures trading.

Risks

  • Sector concentration risk: weakness in Healthcare, Beverage and Travel & Leisure pressured the benchmark, indicating those sectors can exert outsized influence on the BEL 20.
  • Single-stock volatility: notable declines in large-cap healthcare names such as Argen-X and UCB contributed to the index downshift, highlighting stock-specific risk in the sector.
  • Commodity-driven uncertainty: movements in gold and oil prices can affect market sentiment and cost structures for related sectors, introducing potential short-term volatility.

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