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Paper & Energy takes PSI-20 into positive territory despite BCP fall - Markets

PSI-20 full length flap releases for positive ground – sack

The Lisbon Stock Exchange ended the last session of the week on positive ground, with the PSI-20 index rising 0.64% to 5,744.02 points. Among the 19 included in the main Portuguese index, eight rose and 11 fell. Sonae and Jerónimo Martins led the gains, which reached their highest levels on Friday.

The group that owns Continente rose 5.84%, at a share price of 1.07 euros. You have to go back to June 2018 to find such a high value.

Although the listed company closed yesterday after presenting its quarterly results, today’s investors reacted optimistically about higher-than-expected earnings, also driven by two upbeat research notes released in the morning.

On the other hand, Jeronimo Martins again broke records and crossed the threshold of 21 euros per share, which is a historical maximum. The retail sector is having a good moment, also driven by inflation in the food market.

For the rest, EDP Renováveis, Corticeira Amorim, REN, CTT, Navigator and Altri were the other companies that expressed their appreciation on Friday. In the opposite direction, Greenvolt led the losses, having finished the session claiming 2.81%. Galp and BCP are also down, with a decrease of more than 1%, from 1.36% and 1.18%, respectively.

Lisbon followed the general trend in Europe, almost all in the green in this last session of the week, with investors supported by low interest rates, a good economic recovery and relatively cheap valuations.

(updated news)

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