Bel20 nears record as Belgian stocks rise

For investors, the significance is less about one session than the broader message: Brussels is participating in the market’s year-end-style chase for quality and growth, even with macro uncertainty still hanging over Europe. The benchmark is now trading within striking distance of its peak, a level that could attract fresh inflows if global risk sentiment holds.

The advance also reflects a string of company-specific catalysts that are drawing buyers into Belgian names. Sofina led the index with a 3.58% gain to 249 euros after swinging to a first-half net profit of 857 million euros from a 394 million-euro loss, while its intrinsic value rose to 326 euros a share at the end of June. GIMV rose 4.55% after reporting first-half net profit of 148.4 million euros and a 7.5% increase in intrinsic value to 57.2 euros.

EnergyVision climbed 6.42% after lifting first-half revenue 57% to 98.1 million euros and raising its full-year growth target to 35% from at least 30%. Care Property Invest and Bois Sauvage also gained on firmer first-half results, while Solvay advanced on plans to double hydrogen peroxide capacity in Taiwan, a material input for semiconductor manufacturing.

Not every name joined the rally. Elia fell 0.75% after regulators raised reservations about its 2028-2038 investment plan, and Banque nationale dropped 2.88% after a court overturned a 300,000-euro fine tied to its 2022 rate-related disclosure.

The broader setup leaves Brussels sensitive to the next turn in bond yields, Wall Street and any sign that Europe’s earnings season can keep delivering. If global risk appetite stays intact, the Bel20’s record at 5,905.83 looks increasingly vulnerable.