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Belgian shares end higher in directionless market

BRUSSELS:Belgian shares ended a dull session slightly higher amid gloom over a weaker opening on Wall Street and fears that consumer confidence was slipping.

Dealers said many investors were looking to other European bourses such as London and Amsterdam, where stocks ended at a new all-time high today.

"Fears of higher taxes in Belgium means people prefer not to take risks on the bourse. Also, the big investors are looking to other bourses in Europe, such as Amsterdam," one dealer said.

The Bel-20 index ended 1.83 points higher at 1,478.94 on a volume of just over 850 million francs.

Wall Street's weaker opening put a dampener on the Brussels bourse which was looking to New York for direction.

"This was a particularly poor trading day, with no news to help the market. Everything tomorrow will depend on how Wall Street does overnight," one dealer said.

Dollar-sensitive retailer Delhaize sought inspiration from the firmer U.S. currency and traded in positive territory for most of the day. It suffered a bout of profit-taking before the close to end 0.2 percent lower at 1,314 francs.

Dealers largely ignored shipper CMB which released slightly lower first-half earnings after the bourse closed. CMB posted a provisional first-half cons net of 610 million francs against 634 million during the same period last year.

The share closed level at 2,280 francs and dealers said they had anticipated the company's profits to ease slightly.-Reuter