3.5% drop in BCP prevents PSI-20 from tracking gains in Europe – Stock Exchange

The PSI-20 index ended Tuesday’s session down 0.07% to 5,083.59 points, countering the optimism that pervaded other European markets and also on Wall Street, where the banking sector helps the S&P 500 renew its historic gains for the fourth time in a row. session.

But if banks are a strong ally in today’s rallies, both in the US and on most European stock exchanges, here, Banco Comercial Português (BCP) was one of the listed companies that put pressure on the Lisbon Stock Exchange, with a 3.52% write-down to 13.69 cents a share, a Which represents the lowest level in mid-May this year.

Today, before the opening of the session, a Declare BCP to CMVM which reached an agreement with Union Bancaire Privée (UBP) to sell the entire capital of the Swiss Banque Privée BCP. The transaction amount was not disclosed.“Analyzing the company’s bonds through technical analysis, we see that the downtrend was present for several sessions and the movement intensified after the sellers managed to cross the line of the last 50-day moving average”, says Henrique Tomé, XTB Analyst, in comments sent to Negócios .However, he warns that “Despite the recent bearish moves (…) we are facing a long-term uptrend.”

Although most companies (10) devalued this Tuesday, four companies managed to oppose the trend, as was the case with EDP Renováveis ​​(+3.56%) or EDP (+0.93%).