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BCP benefits from higher interest rates.  Lisbon Stock Exchange up 1% - Markets

BCP benefits from higher interest rates. Lisbon Stock Exchange up 1% – Markets

The Lisbon Stock Exchange followed the pace of recovery in the major European markets after the recent sessions were “sell”. The PSI rose 1.13% to 5721.02 Point, with 11 of 15 listed on positive ground and only four on red.

BCP was the highest-grossing listed company in Lisbon, advancing 3.13% to 0.1449 Euro, in line with the positive performance in the European banking sector. The sector is benefiting from the indications given by several members of the European Central Bank (ECB) that an increase in the benchmark interest rates is almost certain in July, and depending on the development of inflation, it could happen in June.

energy – Still waiting to see the mechanism to reduce gas prices – Also had a positive day. EDP ​​Renováveis ​​rose 2.44% to 20.56 In euros, Galp rose 2% to 10.46 The euro and the EDP rose 1.54% to 4.41 euros. On the other hand, REN stock advanced 1.23% to €2.89 per share, after informing the market Dividend distribution will start on May 19th. In the opposite direction, CTT sank again: 1.3% to 3.79 euros. Since then, after closing Thursday’s session, yielding results – with a 38% drop in quarterly profit – the postal operator has already fallen more than 11%, as it came under pressure from consolidating short positions.

In addition to the company led by João Bento, Sonae (which lost 0.48% to €1.03) and Greenvolt (which decreased by 0.31% to €6.41) closed in the red. But the biggest drop was Navigator stock, which lost 1.42% to 3.88 euros.

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(news updated at 17:00)