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The rise in oil gives Galp Energia a profit of 2.4%.  PSI-20 accompanies Europe in green markets

The rise in oil gives Galp Energia a profit of 2.4%. PSI-20 accompanies Europe in green markets

The Lisbon Stock Exchange ended the day higher, driven by the energy sector and international trend. The PSI-20 index rose 0.4% to 5,663.98 points, with 13 identified in green, five in red and one (REN) unchanged.

Galp Energia led the gains, up 2.44% to 9.82 euros per share, in response to the performance of the oil market. Both Brent and West Texas Intermediate added more than 1.5% after the US Department of Energy announced that the country’s crude oil inventories fell more than expected.

On the other hand, EDP Renováveis ​​advances by 1.07% to €19.91. BNP Paribas Exane revised upwards its recommendation on EDP Renováveis ​​and, despite lowering its target price, kept expectations above market consensus.

In the green, listed companies such as Navigator (+0.95%), Nos (+0.59%) and CTT (0.45%) were closed. Before the market operational update was revealed, Jerónimo Martins rose 0.72% to €20.96.

On the other hand, the biggest drop was Mota-Engil, which lost 2.06% to 1.28 euros per share. Greenvolt and BCP suffered losses of more than 1%, while losses for EDP and Altri also fell.

Despite this, Lisbon followed the rest of Europe, negotiating major markets On the rise, it was moved by the speech of the head of the US Federal Reserve. Jerome Powell assured that he would use all the tools at his disposal to contain inflation without harming the economy or the labor market.

The data comes at a time when surging inflation has been alarming and prompted central banks to roll back the stimulus implemented due to the pandemic. The Stoxx 600 Index is up 0.65%.

(news updated)

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