BEL 20

The BEL 20 is the benchmark stock market index of Euronext Brussels. In general, the index consists of a minimum of 10 and a maximum of 20 companies traded at the Brussels Stock Exchange. Since 20 June 2011, the BEL20 has contained 20 listings, with the exception a one month period in May-June 2018 when Ablynx stock was removed following the takeover by Sanofi [2], only to be replaced mid June by arGEN-X.

BEL 20
BEL 20 performance between 1991 and 2019
Foundation30 December 1990
OperatorEuronext
ExchangesEuronext Brussels
Constituents20
TypeLarge cap
Market cap287.5 billion (end 2018)[1]
Weighting methodCapitalization-weighted
Websitewww.euronext.com

Rules

The composition of the BEL 20 index is reviewed annually based on closing prices on the last Friday in February.[3] These changes are effective after the third Friday of March. In addition to meeting a set of criteria demanding a company be "representative of the Belgian equity market", at least 15% of its shares must be considered free float in order to qualify for the index.[3] In addition, a candidate for inclusion must possess a free float market capitalisation (in Euros) of at least 300000 times the price of the index on the last trading day of December.[3] The minimum requirement for an existing constituent to remain in the index is a market cap of 200000 times the index value.[3] At each annual review, the weights of companies in the index are capped at 15%,[3] but range freely with share price subsequently. The BEL20 is a capitalization-weighted index. Its record high is 4756,82 set on 23 May 2007.

Annual Returns

The following table shows the annual development of the BEL 20 Index, which was calculated back to 1990.[4]

Year Closing level Change in Index
in Points
Change in Index
in %
19901,000.00
19911,029.7229.722.97
19921,127.0297.309.45
19931,473.10346.0830.71
19941,389.64−83.46−5.67
19951,559.63169.9912.23
19961,897.58337.9521.67
19972,419.34521.7627.50
19983,514.511,095.1745.27
19993,340.43−174.08−4.95
20003,024.49−315.94−9.46
20012,782.01−242.48−8.02
20022,025.04−756.97−27.21
20032,244.18219.1410.82
20042,932.62688.4430.68
20053,549.25616.6321.03
20064,288.53739.2820.83
20074,127.47−161.06−3.76
20081,908.64−2,218.83−53.76
20092,511.62602.9831.59
20102,578.6066.982.67
20112,083.42−495.18−19.20
20122,475.81392.3918.83
20132,923.82448.0118.10
20143,285.26361.4412.36
20153,700.30415.0412.63
20163,606.36−93.94−2.54
20173,977.88371.5210.30
20183,243.63−734.25−18.46
2019 3,955.83 712.20 21.96

Constituents

Belgacom (now rebranded Proximus) payphone in Lebbeke.

The following 20 stocks make up the BEL 20 as of 31 March 2020.

CompanyICB SectorTicker symbolIndex weighting (%)In index since
Ackermans & van HaarenFinancial ServicesACKB2.41March 2007
AedificaReal EstateAED2.16March 2020
AgeasInsuranceAGS6.30March 1991
AB InBevFood & BeverageABI13.67February 2002
AperamBasic ResourcesAPAM0.90March 2017
arGEN-XHealth CareARGX4.90June 2018
BarcoIndustrial Goods & ServicesBAR1.37March 2019
CofinimmoReal EstateCOFB2.72January 2003
ColruytRetailCOLR2.54January 1993
GalapagosHealth CareGLPG7.08March 2016
GBLFinancial ServicesGBLB4.84March 1991
ING GroupBanksINGA11.63March 2016
KBCBanksKBC9.77January 1993
ProximusTelecommunicationsPROX2.95March 2004
SofinaFinancial ServicesSOF2.67March 2017
SolvayChemicalsSOLB4.25March 1991
Telenet GroupMediaTNET1.17 March 2009
UCBHealth CareUCB9.30March 1991
UmicoreChemicalsUMI6.21March 1991
WDPReal EstateWDP3.15March 2019
  • ^1 - Weightings accurate on 31 March 2020.[5]

Former companies in the BEL20

CompanyICB SectorTicker symbolPeriod in BEL20
AblynxpharmaceuticalsABLXMarch 2018 - June 2018
Agfa-Gevaertelectronic equipmentAGFBMarch 1991 - December 1994
June 1999 - March 2009[6]
AlmanijbanksNo longer listedMarch 1991 - March 2005[7]
BarcoNetelectronic equipmentNovember 2000 - November 2000
Befimmo-Sicafiindustrial and office REITsBEFBMarch 2009 - March 2016[8]
Bekaertindustrial goods and servicesBEKBJanuary 1993 - June 1999
December 1999 - March 2018[9]
BpostIndustrial Goods and ServicesBPOSTMarch 2014 - March 2019
CBRCementNo longer listedMarch 1991 - December 1999
CMBShipownersNo longer listedJanuary 1993 - January 1999
CNPSpecialty financeNATMarch 2006 - May 2011[10]
Cockerill-SambreSteelNo longer listedDecember 1994 - December 1996
CobepaInvestment companyNo longer listedJanuary 1999 - September 2000
CumerioCopper2005
Delhaize GroupretailADMarch 1991 - March 2017[11]
Delta LloydInsuranceDLMarch 2013 - March 2016[8]
DexiaBankingNo longer listedDecember 1997 - March 2012[12]
D'IeterenConsumer servicesDIEJuly 1998 - March 2006
March 2012 - March 2016[8]
ElectrabelElectricityELEMarch 1991 - November 2005[13]
EliaUtilitiesELIMarch 2012 - March 2017[11]
EngieUtilitiesENGINovember 2005 - March 2019
Generale BankBankingNo longer listedMarch 1991 - July 1998
GIB GroupSupermarketsNo longer listedMarch 1991 - November 2002
IBAMedical technologyNo longer listedNovember 1999 - March 2003
MobistarTelecomOBELNovember 2002 - March 2013
NyrstarMetallurgyNYRMarch 2008 - March 2009
June 2011 - March 2013
Omega PharmaPharmaceuticalsOMEMarch 2002 - December 2011[14]
Ontex GroupPersonal and Household GoodsONTEXMarch 2016 - March 2020
PetrofinaOilNo longer listedMarch 1991 - June 1999
Real SoftwareTechnologyNo longer listedJune 1999 - February 2002
RecticelPolyurethane based productsRECMarch 1991 - January 1993
Royale BelgeInsuranceNo longer listedMarch 1991 - June 1998
Société Générale de BelgiqueInvestment & BankingNo longer listedMarch 1991 - July 1998
Suez EnvironnementUtility company2008
TelindusICTNo longer listedSeptember 2000 - March 2002
TessenderloChemistryTESBMarch 1991 - January 1993
July 1998 - March 2004
ThromboGenicsBiopharmaceuticalsTHRMarch 2013 - March 2014
TractebelEnergyNo longer listedMarch 1991 - November 1999
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References

  1. "BEL-20 Executive Factsheet 2018" (PDF). Euronext. Archived from the original on 9 November 2011. Retrieved 2018-11-15.
  2. "Frans bedrijf Sanofi neemt Ablynx over voor 3,9 miljard euro: "Voorzichtig tevreden, al blijven er heel wat vragen"" [French company Sanofi takes over Ablynx for 3,9 billion euro: "Cautiously happy, although many questions remain"]. demorgen.be. 29 January 2018. Retrieved 15 June 2018.
  3. "Rules for the BEL 20-Index" (PDF). Euronext. 1 October 2015. Retrieved 1 October 2015.
  4. "BEL 20 (^BFX) Historical Data - Yahoo Finance". finance.yahoo.com. Retrieved 21 January 2020.
  5. "BEL 20 Factsheet" (PDF). Euronext. Retrieved 15 April 2020.
  6. "Annual review of BEL20 index" (PDF). Euronext. 31 May 2011. Archived from the original (PDF) on 9 November 2011. Retrieved 22 June 2011.
  7. "BEL20: KBC-Almanij Merger" (PDF). Euronext. Archived from the original (PDF) on 20 March 2009. Retrieved 30 November 2007.
  8. "Galapagos, ING en Ontex komen in de Bel-20-index" [Galapagos, ING and Ontex enter the Bel-20-index]. de tijd (in Dutch). 4 March 2016. Retrieved 4 March 2016.
  9. "Bekaert verdwijnt uit Bel20" [Bekaert disappears from Bel20]. standaard.be (in Dutch). 7 March 2018. Retrieved 15 June 2018.
  10. "Index Announcement" (PDF). NYSE Euronext. 29 April 2011. Retrieved 8 May 2011.
  11. "Nieuwkomer Aperam samen met Sofina naar Bel20". beursduivel.be (in Dutch). 7 March 2017. Retrieved 7 March 2017.
  12. "Dexia valt uit Bel20". De Standaard (in Dutch). 2 January 2012. Retrieved 12 January 2013.
  13. "Suez replaces Electrabel in the BEL20 Index" (PDF). Euronext. Archived from the original (PDF) on 20 March 2009. Retrieved 4 December 2007.
  14. "Omega Pharma verdwijnt uit Bel20 na geslaagd bod Marc Coucke". Trends (in Dutch). 27 December 2011. Retrieved 12 January 2013.
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