PSI is having the worst day in 27 months. BCP dives more than 11% – Stock Exchange

PSI is having the worst day in 27 months.  BCP dives more than 11% – Stock Exchange

The PSI index closed on Friday, when the June 10 holiday is celebrated, and fell 3.39% to 6,087.96 points. This is the biggest drop in the Portuguese stock market index since March 18, 2020, when we were in the early stages of the COVID-19 pandemic.

The Portuguese market followed the “red tide” recorded in Europe (and on Wall Street) as investors were surprised by an unexpected rise in US inflation to four-decade highs, at a time when the previous day’s announcements in Europe were still being absorbed by the European Central Bank. The purchase of net debt will expire on July 1 and indicate key rate increases of 25 basis points in July and an unspecified dimension in September.

Here, all 15 companies listed on the PSI ended the session in “red”, but the highlight is BCP, which fell by 11.33%, to 0.173 euros, on a day when Tejon pointed to the weakness of the Polish bank BCP, the Millennium. Bank, to the moratorium approved by the Polish parliament.

Greenvolt (-6.67%, to €7) also closed with significant declines, as yesterday it announced a capital increase of €100 million, and CTT, which lost 6.5%, to €3.45.

Paper mills, which fell 4.18%, and Navigator, which fell 3.3%, were also affected by the performance of the index, while Simaba lost 3.62%.

In the energy sector, Galp stock fell 3.31% to €12,405 on a day when oil prices gave way from recent gains. Companies included in the EDP group were the least penalized, but with a drop of more than 1%. EDPR is down 1.2% and the parent company’s stock is down 1.17%.

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Jeronimo Martins, listed with the highest weight in the index, was the only one to lose less than 1%. The owner of the Pingo Doce closed down 0.65% to €18.42.

By Andrea Hargraves

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