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A 4% rise in EDP Renováve is not enough to stop the fall of the PSI-20 – Stock Exchange

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The PSI-20 index ended Tuesday’s session 0.16% lower at 5,154.86 points, following the trend of its European peers, at a time when the sudden collapse in oil prices sent the entire oil sector down.

After the escalation of crude oil prices, as the price of Brent crude – which is a reference for Portugal – reached $ 77 a barrel, the prices of this crude decreased, reflecting the great volatility caused by the hesitation of OPEC +The Organization of Petroleum Exporting Countries and its allies) is a provocation.

Here, EDP Renováveis ​​managed to escape the negative sentiment that prevailed in the national stock market with gains of 4.01% to 20.48 euros per share, on the day EDP also followed in its footsteps and rose by 1, 38% to 4,628 euros per share.

So investors ignore the truth. From a company to be The purpose of searches by the Public Prosecution And by the IRS, in the context of the operation investigating the sale of six dams to a consortium led by the French company Engie, for alleged tax fraud.

The question raised was that in the event of the sale of six dams by EDP to Engie, no transaction fee of €2.2 billion, and an estimated stamp duty of €110 million, would have been charged.

The EDP argues that the method used for the transaction, which allowed for tax exemption, was most appropriate for the type of business. In Parliament, doubts were raised about this option.

But the earnings of those two companies were overshadowed by the declines of 13 others, including BCP, which fell 1.70% in value to 13.28 cents a share. Oil company Galp Energia was also affected by lower oil prices and ended the day with a loss of 2.83% to 9,212 euros.

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