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PSI-20 decreases by nearly 1% with energy to compress - Stock

PSI-20 decreases by nearly 1% with energy to compress – Stock

The National Stock Exchange closed the session down 0.83% to 5,181.95 points. Of the 18 listed companies that make up the index, 13 companies ended the day lower, 3 companies rose, and 2 companies remained unchanged.

The PSI-20 index followed the downtrend in other European markets, on a day ending a 10-session cycle of gains, after the US Federal Reserve indicated yesterday that monetary stimulus may be withdrawn. The Fed has indicated that it is likely to raise key interest rates twice in late 2023 and revised upward its estimate for this year’s inflation, indicating 3.4%.

With most of the companies listed today closing lower, Altri led losses, dropping 2.84% to €5.645.

But it was the energy group that contributed the most to the negative performance of the national benchmark, especially EDP Renováveis, which fell 1.32% to €19.44. The parent company slid further, dropping its value by 1.85% to 4,675 euros.

Galp Energia also fell 0.78% in this session to €9,906. The REN ended the day 1.06% lower at €2.325.

In the retail sector, Jerónimo Martins is part of a group of three listed companies that ended the day higher and helped stem further losses. Owner Pingo Doce rose 0.79% to 15,975 euros. Sonae shares fell 1.58% to 81.15 cents.

Ibersol led gains in the session by 1% to 6.08 euros. BCP was also part of the trio that was shown to rise, adding 0.13% to 15.09 cents.

CTT stock fell 1.13% this session to 4.39 euros. The company, led by João Bento, announced on Wednesday, after the market closed, the purchase of NewSpring Services and HCCM – Outsourcing Investment for seven million euros.

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(updated news)