European stock exchanges celebrated the letter of confidence from US Federal Reserve Chairman Jerome Powell on Friday in Jackson Hole. The PSI-20 added 0.27% to 5,340.41 points with the vast majority of sectors up, on a green day for most European markets.
The session was a gain, as investors were happy with Powell. The US central bank leader announced a possible withdrawal of support later this year if the economy continues to recover strongly, but he was moderate in his speech. In response, the Stoxx 600 Index is up 0.09%, the German DAX Index is up 0.22%, and the French CAC Index is up 0.08%. In the opposite direction, the Spanish IBEX 35 is down 0.55%.
In Lisbon, Altri rose 2.15% to 5.49 euros per share, in reaction to a recommendationJBCapital Markets has resumed bond coverage. Analysts set a target price of 8 euros for the company They elected the Portuguese as the preferred candidate in the pulp and paper sector with a growth potential of 49%.
Also in paper and pulp, Semapa rose 1.36% to €11.96 and Navigator closed unchanged at €3.07 per share. In retail, Jerónimo Martins advanced 1.5% to €18.02, while Sonae added 0.16% to €0.92. EDP Renováveis and EDP rose 0.66% and 0.13%, respectively.
Galp Energia closed up shy of 0.07% to €8.63 per share, with Oil boosting positive sentiment. London-traded Brent crude, which is used as a reference for imports into Portugal, rose 0.32% to $72.93 a barrel, and West Texas Intermediate crude rose 0.22% to $68.89.
The opposite was BCP which lost 1.4% to €0.1279. Mota-Engil (-06%), Ibersol (-0.68%) and Corticeira Amorim (-1.38%) also closed in the red, but the biggest drop was actually by Pharol, which lost 2.25% for 0.10 euros.
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