The global red tide engulfs Lisbon. Only the “fast food” of Ibersol gets away
The Portuguese stock exchange ended up losing more than 1%, with it being the least sanctioned market in Western Europe. Today sees heavy losses in stock markets on both sides of the Atlantic with fears of Fed tightening and the specter of a recession.
The Portuguese stock market did not escape the red wave that hit the major stock exchanges in both Europe and the United States. PSI lost 1.41% to 5,872.76 points, however, the least punished market was in Western Europe. Strong employment data in the US reinforced the conviction that the Federal Reserve (Fed) could extend the restrictive monetary policy and raised concerns that the world’s largest economy – and the European Union as well – could enter a recession.
Of the 16 listed on the main national index, only Ibersol, which operates KFC and Pizza Hut restaurants, among others, has closed.
The biggest drop today belongs to the EDP Renováveis, which fell 2.52% to 17.4 euros, again the lowest since February last year. With losses still more than 2%, Mota-Engil and Galp, which posted returns of 2.23%, closed at €2.195, and 2.17%, at €10.795, respectively.
EDP recorded its lowest level since last November, declining by 1.68% to 4.39 euros.
With all sectors penalized, BCP fell 1.54% to €0.2169, on a day when European banks fell 2.6%. Still in the heavyweight division, Geronimo Martins, who yesterday reached historic highs, lost 1.23%, to 25.68 euros.
Greenvolt ended the day at €5.92, losing 1.33% and setting the lowest level since March 2022.
It is also worth noting the numbers that lost 0.56% to 3.212 euros, which is the lowest closing value since the beginning of August 2021.
Ibersol survived the dips, advancing 1.5% to €6.78.
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