The main Portuguese stock index (PSI 20) closed the session this Thursday in the red, devaluing 0,56% to 4.378,27 points, in line with the main European counterparts. The national exchange did not escape the external conjuncture of the stock markets and ended up interrupting a cycle of three consecutive sessions closed on positive ground. European investors today were afraid of the new escalation of tensions between the United States and China and European markets were penalized.
Earlier on Thursday, China's top diplomat said the United States had tried to start a "new Cold War" between the world's two largest economies. According to comments by Mtrader of Millennium BCP, Ramiro Loureiro, the Chinese adviser of State and Minister of Foreign Affairs “also affirmed that relations between the two countries face the biggest challenge since the establishment of diplomatic ties, blaming the USA for this deterioration ”.
On Wednesday, US Secretary of State Mike Pompeo said Washington is prepared to ban more applications of Chinese origin in addition to the social network Tik Tok, due to US national security issues. China and the US will return to the negotiating table on August 15 to debate the first phase of the trade agreement again.
In view of the exchange of arguments, investors remain cautious. The expectations for a new stimulus package for the North American economy are added, which will be being prepared by the White House, but which will depend on an agreement between Republicans and Democrats in the congress.
Also from the USA, news came that there were fewer applications for unemployment benefits than expected in the past week.
Data on orders from German factories, released this Thursday, are also likely to have influenced investors. Orders contracted less than expected in June. Thus, orders to German factories contracted 11,3% year on year, in June, when analysts estimated a drop of 18,5%.
In Portugal, of the 18 listed companies, only five did not close the session on negative ground in PSI 20. CTT and BCP securities were the ones that most penalized PSI 20.
CTT closed losing 2,33%, to 2,51 euros, on what was the first day of reactions to the postal operator's results in the first half. The company led by João Bento revealed on Wednesday, after the closing of the session, which had a loss of two million euros in the accounts of the first half of 2020. In the same period of 2019, CTT had recorded a profit of nine million euros. CTT sinks 2,72% to 2,50 euros.
BCP fell 1,36% to 0,10 euros. The fall in Jerónimo Martins shares (-1,08%), Mota-Engil (-1,26%) and NOS (-1,23%) contributed to the poor performance of PSI 20.