Valuable Portuguese stock exchange starts session to accompany Europe

Despite the fact that the number of deaths by Covid-19 has already surpassed 500 thousand and the number of confirmed cases has reached the ten million mark worldwide, which leads the World Health Organization to not signal optimism, investors do not reveal, for now , fears in this session.

The main Portuguese stock index (PSI 20) kicked off the session this Tuesday to add 0,04%, to 4.34,47, in line with the main European markets.

Despite the number of deaths by Covid-19 already exceeding 500 thousand and the number of confirmed cases the threshold of ten million worldwide, which leads the World Health Organization to not signal optimism, investors do not reveal this Tuesday fears about a second wave of the new coronavirus outbreak.

Contributing to the negotiations on positive ground is the economic data on the indicator for industrial and tertiary activity in China, which shows improvements. China's official services PMI rose to 54,4 points in June, from 53,6 points in May, a seven-month high, driven by a recovery in the services industry. PMI Indústria increased from 50,6 to 50,9, higher than estimated by analysts, according to Millennium BCP's MTrader, Ramiro Loureiro.

In Japan, industrial production worsened the pace of contraction in May. The country recorded a year-on-year decline of 25,9% in May, after contracting 15% in April. In sequential terms, there was a contraction of 8,4%, a drop greater than the estimated 5,9%, according to Ramiro Loureiro.

In addition, the appreciation felt in the main Asian markets, despite a new episode in the difficult relationship between China and the United States. The U.S. Department of Commerce announced on Monday that it will suspend regulations that give Hong Kong special treatment with regard to exceptions to export licenses. In response, the Chinese congress passed the national security law in Hong Kong, which may cause further tensions with the United States.

In Europe, investors today have information that the British economy will have contracted more than expected in the first quarter. The final figure showed that the gross domestic product (GDP) contracted 2,2% in the period between January and March, compared to the last three months of 2019, when an economic contraction of 2% had previously been reported. One of the factors of the fall was the “strong drop in exports (-13,5%), according to Loureiro.

On the Portuguese stock exchange, the securities of Pharol and Sonae Capital account for more than 2% and are the ones that best negotiate on PSI 20. But it stands out among the heavyweights of the national market, the oil company Galp Energia, which adds 0,34%, 10,46 euros.

Read more

Recommended

Altri, BCP and NOS penalize PSI 20, which accompanies falling Europe

PSI 20 falls 1,11%, to 4.341,61 points, in line with the main European markets.

A fabulous quarter in three horrible months

The quarter may have been excellent for investors, but it was horrible for the job market.

Portugal attracts record demand of 32 billion euros in 15-year debt sale

The initial guidance points to a rate of 89 basis points above the 'midswaps', which indicates that Portugal should pay a yield below 1%, according to "Bloomberg". Demand has already broken a record set in a sale in April and the issue is expected to exceed four billion euros.
Comments