The Portuguese stock market managed to catch up with the positive day seen in the major European markets, although it closed very slightly higher. In Europe, the markets ended up reversing the losses incurred after the ECB President’s speech in Sintra. Christine Lagarde left the message that the peak of interest rates could be kept out due to the “stubbornness” of inflation.
The PSI ended the day up 0.03%, at 5,910.20 points, with a gain of 10 points and six in the red.
Mota-Engil continued the positive wave coming from the previous day, the day it announced new contracts in Africa, and led gains by 4.12%, to €2.15, the highest since May 11th.
Among the heavyweights, Jerónimo Martins advanced by 0.63%, to reach 25.58 euros, staying close to the recent historical highs. On the other hand, EDP rose 0.36% to 4.516 euros, in line with the “utilities” sector in Europe.
BCP, in turn, rose 0.24%, to €0.2132, on the day S&P indicated that Polish banks should be able to absorb a provisioning boost due to loans in Swiss francs.
PSI’s top performers were primarily EDP Renováveis and Galp. The share of the green electricity company, led by Miguel Stilwell, lost 1.18% to 18.46 euros, while the oil company fell 0.85% to 10.56 euros, in line with the sector’s losses in European markets.
However, the biggest fallout of the day belonged to Nos. And the telecommunications company lost 1.26%, to reach 3286 euros, in a confrontation with the telecommunications sector in Europe.