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Galp, Mota-Engil and BCP shots release green PSI

Galp, Mota-Engil and BCP shots release green PSI

The oil company found an oil well off Namibia and the value of bonds rose more than 8% in Thursday's session. Moreover, the PSI “smiled” much more than any of the major European markets.

The Lisbon Stock Exchange recorded a largely positive day in Wednesday's session, rising by 2.19%, rising to 6,602.22 points, benefiting from sharp gains achieved by some of the companies most listed in the PSI index.

The biggest highlight of Galp. The oil company's bonds rose 8.04% to 14.98 euros by the end of the session following the discovery of an oil well off Namibia. Meanwhile, Mota Engel shares rose by 5.44% to reach €4.65. It was followed by BCP, which advanced 3.66% and ended the day at €0.3027.

On the other hand, EDP Renováveis ​​decreased by 0.52% to 17.14 euros.

For fuel, there were no significant differences, with the value of a barrel of crude oil falling by 0.15%, trading just above $72.

Major European indices had a mild day, with the largest increase recorded in Italy at 0.18%. Spain followed with 0.06%, as well as the Euro Stoxx 50 and the German index, each recording 0.01%. In contrast, France recorded a loss of 0.01%, while the United Kingdom contracted by 0.44%.

“The PSI was the big gainer in today's session, with the Portuguese index boosted by Galp's strong rise in reaction to its new discovery of a new oil well in Namibia, which led to a rating hike by Citi,” in an analysis by the stock markets division of Millennium Services. Investment banking.

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“Today's national top three highlights the most significant increases in Mota-Engil and BCP, which again exceeded 30 cents per share. BCP and Galp were also in the top 10 in the performance of the European Stoxx 600 Index, with Grifols recovering part of the significant declines Which he witnessed yesterday, after he denied the accusations of Short report Released yesterday,” it is noted.

“Meanwhile, competition among Bitcoin ETFs has intensified even before they are (or can't) be approved by the SEC, with BlackRock cutting fees for investors in its proposed ETF.”