Rising bond yields support banks | The BEL 20 flies over Europe

The main equity indices closed in scattered order on Tuesday, lacking a positive catalyst in the short term. “After an impressive start to the year, the stock markets are struggling to go higher this week,” notes Russ Mold, analyst at AJ Bell. “We are in a period where investors are looking to see clearly what to expect.”

The German DAX fell by 0.08%, the CAC 40 by 0.20% and the British Footsie by 0.65%. The Stoxx Europe 600 index for its part stabilized at 408.61 points (+ 0.05%).

In Brussels, the Bel 20 flirted with its point of balance during the first part of the session before timidly gaining height. The flagship index of the Brussels Stock Exchange closed with an increase of 0.53% to 3,729.83 points.

At its head, KBC jumped 3.60% to 61.66 euros despite an unfavorable change in recommendation. Deutsche Bank lowered its advice to “hold” versus “buy” previously. “The challenges facing European banks, such as rising defaults and interest rates, are largely integrated into the unambitious valuations” of these, stress its analysts in a sector note.

Excluding Bel 20, Asit Biotech soared 43.97% to 0.37 euro. The biopharmaceutical company has filed a reorganization plan with the registry of the Liège company court. Its future now rests on a potential partnership with the French group DMS Group. The latter would like to see its main division, DMS Imaging, take on the stock market clothes of Asit Biotech. Read | The future of Asit Biotech is in medical imaging

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