Belgium’s BEL 20 index closed at its highest level in nearly two decades on Wednesday, marking a symbolic milestone for the country’s equity market. The index, which tracks the performance of the largest and most traded companies on Euronext Brussels, surpassed its previous record set before the 2008 global financial crisis.
Gains were driven by strength in heavyweight financials, energy companies, and consumer goods producers, as well as renewed interest from international investors seeking stability within the euro zone. Analysts attribute the rally in part to improved corporate earnings, a supportive interest rate environment, and stronger-than-expected macroeconomic data from across the European Union.
Market observers also point to Belgium’s role as a gateway to European trade, which has attracted institutional flows amid geopolitical uncertainty elsewhere. The rise comes as European stocks broadly benefit from easing inflationary pressures and expectations that the European Central Bank will maintain a dovish stance through the remainder of the year.
Despite the upbeat tone, some strategists warn that valuations are approaching stretched levels, which could leave the BEL 20 vulnerable to profit-taking should global risk sentiment deteriorate. For now, however, the index’s breakout is seen as a sign of resilience and renewed investor confidence in Belgium’s capital markets.
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