Bullish BCP fails to hold PSI-20 in Green – Stock Exchange

BCP is this morning’s star on the PSI-20. In the first minutes of trading, Miguel Maya Bank rose 1.32% and led the gains among those included in the main Portuguese index. The institution maintains its two-week upward trajectory, buoyed by gains in the banking sector on European soil, and also by recent news of entering the sustainable debt market and closed legal agreements in Poland.

However, the BCP estimate is not enough to put the Lisbon Stock Exchange on positive ground. The PSI-20 index started the morning trading in the red, with losses of 0.57% to 5501.99 points. Of the 19 listed, 2 were dropping out, 12 dropping out and 4 unchanged.

In addition to BCP, Galp Energia is also painted green, 0.24%. The Portuguese energy company, last week, was considered a favorite for investment by Goldman Sachs, which believes that the shares of the listed company could rise to 14.50 euros. At the moment it is priced at €10.02.

On the flip side, the decline was led by Pharol, which fell by 4.04%, followed by EDP Renováveis, down by 2.30%. Parent company EDP and Jerónimo Martins are also negotiating on the loss side.

The Lisbon Stock Exchange is in line with other European markets, all in shades of red this morning, with losses around 1.00%. The Stoxx 600 index, which includes the largest companies in Europe, fell 1.15%. Investors fear rising interest rates on debt in many countries and fear that inflation is here to stay.

(News updated with more information)