Lisbon closes on a high with bright energy. BCP is at €0.27 for the first time in four years
The Portuguese Stock Exchange ended the opening session of the week on a higher note, in contrast to the declines witnessed in the main European markets, which were under pressure from the conflict that broke out between Israel and Hamas over the weekend. Energy drinks led the gains and BCP once again touched the €0.27 level, something that has not happened in more than four years.
The Portuguese stock market contrasted with its European counterparts, which recorded losses resulting from the conflict between Israel and the terrorist Hamas movement. The PSI index advanced 0.93% to 5,943.32 points, with nine points higher, five in the red and two unchanged.
Galp shares led the gains with a 5.1% jump to €14.11, benefiting from a sharp rise in oil prices and with investors having price targets for the oil company’s shares cut by Alantra shares.
In fact, the energy sector stood out today, with Greenvolt up 3.63% to €5.28, REN up 1.47% to €2.42, and EDP up 0.8% to close at €3,665. EDP Renováveis was the only listed company in the sector that did not record gains, closing unchanged at €14.22. The rise in the PSI is largely due to the greater weight of “public utilities” in the index, as this sector also saw a positive day in Europe.
One of the highlights of the day was BCP, which advanced 0.3%, ending the day at €0.2696. During the session, the shares of the bank, led by Miguel Maya, exceeded 0.27 euros for the first time since July 24, 2019, after touching 0.2726 euros.
The paper sector also had a positive day: Altria rose 0.42% to €4.33, while Navigator rose 0.11% to close at €3.614.
The pressure on the indicator was mainly by Jeronimo Martinez. Shares in owner Pingo Doce fell 1.66% to 19.57 euros, the lowest level in seven months. The retail sector has been one of the most punished in Europe and the company led by Pedro Soares dos Santos has not escaped the downfall.
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