Investor rediscovers Brussels stock market: fifth more transactions in first half 2025
The number of transactions on the Brussels stock exchange rose by a fifth in the first six months of this year, according to an analysis by De Tijd. Several companies with a "story" saw their share orders multiply.
Investors are rediscovering European equities this year. That led in February to the first closing record for the star index Euro Stoxx 50 since 2000. The Brussels stock exchange surfed the wave. The Bel20 climbed some 5 percent in the first half of the year and is currently still 3 percent below its record of 18 years ago, when the index hit 4,756.82 points.
The number of transactions in Brussels rose even more sharply. That figure rose by nearly a fifth in the first six months to 6.8 million, learns a study by De Tijd based on figures published by stock exchange operator Euronext on its website.
A transaction occurs when buyer and seller agree on the price. The number of transactions is a good barometer of a stock's popularity because unlike, say, stock market turnover, the parameter is not colored by a one-time multi-million dollar order.
Farm ears
Despite the increase, Brussels did score slightly below the average for Euronext, which also includes the exchanges of Amsterdam, Paris, Dublin, Lisbon, Oslo and Milan. The latter in particular gained in popularity, with almost a third more transactions (+32%) thanks to the rediscovery of banks (UniCredit, Intesa Sanpaolo, Monte dei Paschi) and defense (Leonardo). Paris (+21%) and Amsterdam (+18%) also saw a big boost. Brussels thus saw its market share erode slightly again, to a modest 4% of all orders executed on the Euronext exchanges.
Among the 100 most traded shares on the pan-European exchange, four more Belgian ones stand out: AB InBev (at 39 between Safran and Campari), Argenx (73), UCB (82) and KBC (93). The share of Dutch chip machine builder ASML is the only one to record more than 4 million transactions on Euronext.
Among the 100 most-traded shares on the pan-European stock exchange are four Belgian ones: AB InBev (at 39), Argenx (73), UCB (82) and KBC (93).
AB InBev - which is seeing more and more trading shift toward Wall Street, where the brewer is also listed - saw over 850,000 transactions. Investor interest in the Bel20's pharma players, Argenx (+58%) and UCB (+62%), rose some 60 percent after their 2024 miracle year, despite a share price that rebounded. Tubize, the monoholding above UCB listed at a steep discount, saw the number of transactions more than double (+143%). Ditto for Elia (+104%), courtesy of the relief rally following the grid operator's long-awaited capital round.
Interestingly, trading in chemicals players Solvay (-32%) and Syensqo (-8%) declined, so the observation remains that the break-up of the old Solvay is not delivering the hoped-for value creation.
Outliers
Among smaller and mid-sized stocks, Gimv (+102%) stands out, which saw trading double after its "un-Flemish" ambitious capital round. At Greek cement group Titan (+110%), listed in Brussels, investors were already anticipating the later successful Wall Street IPO of its US subsidiary.
The outliers were often companies with a story that aroused interest, especially among small investors: the drama surrounding the balance sheet of water purifier Ekopak (+338%) translated into a more than fourfold increase in trading, while at Vastned (+638%) the merger with its Dutch parent led to seven times more trading. Conversely, the hull of freely tradable shares at CMB.Tech (-57%) and Exmar (-43%), reduced to the absolute minimum, logically translates into correspondingly reduced interest.
Oxurion experienced the biggest decline in transactions in the first half of the year (-78%). Now that the swaggering biotech company is going to invest in bitcoin and ethereum, a reversal is likely to follow. Last week, Oxurion was already the most traded Belgian stock in Keytrade Bank's stock market app.
References
- Source: The Time
- Link: https://www.tijd.be/markten-live/nieuws/aandelen-brussel/belegger-herontdekt-brusselse-beurs-vijfde-meer-transacties-in-eerste-helft-2025/10617438.html
- Author: Kurt Vansteeland, Christophe De Rijkce
- Photo: Kristof Vadino
- Date: 30/07/2025
