Black day for European stock exchanges, where the European index was no exception. Marking the session in Lisbon is Galp's impressive fall (-7,27% to 6,862 euros), dragged by the oil slump, both in Europe and in the USA. The barrel of Brent oil for December delivery fell today by 5,49% to $ 38,94 a barrel.
Ibersol, affected by the specter of a new 'lockdown' in the restoration, fell -7,63% to 3,63 euros.
But it doesn't stop there. Mota-Engil fell -5,07% to 1,086 euros; CTT decreased -3,88% to 2,105 euros; EDP lost -3,43% to 4,167 euros; EDP Renováveis decreased -1,78% to 15,46 euros; and Corticeira Amorim slid -2,20% to 9,80 euros.
The BCP, which presents third quarter results tomorrow, closed down -3,43% to 0,0703 euros. Today in Spain, Bankia reported 3rd quarter accounts slightly above forecast.
The fall of the Lisbon Stock Exchange was not only greater because Navigator rose 3,55% to 1,924 euros and was one of the five titles that closed on the green. The rise of Navigator caused the rise of its holding company Semapa (+ 0,46%) and affected the Altri paper producer, which increased + 1,11% to 3,276 euros.
European stock markets closed sharply, accumulating losses for the third consecutive day. The German DAX index fell 4,17% to 11.560,51 points and led the falls, “punished by the announcement by the German Chancellor of a new partial lockdown in the country during the month of November, a restriction that includes the closure of bars, restaurants and places leisure ”, according to the market analyst at Millennium BCP.
London's FTSE 100 fell -2,55% to 5.582,80 points. "During the afternoon there were notes that the European Union and the United Kingdom are making progress in post-Brexit negotiations, raising hopes that an agreement can be reached in early November," said the same analyst.
CAC 40 lost -3,37% to 4.571,12 points; the Italian FTSE MIB decreased -4,06% to 17.897,79 points; and the IBEX closed down -2,66% to 6.474,40 points. Dutch AEX also fell -2,12%.
The overall EuroStoxx 50 closed down -3,49% to 2.963,54 points. In the Stoxx 600 universe, losses were transversal to all sectors.
Reuters today reported that German Finance Minister Olaf Scholz is planning to incur far more debt than originally planned next year to finance new measures to help fight the coronavirus, a government source said on Wednesday. The initially forecast sum of 96 billion euros for 2021 is not enough to help companies survive the second wave of the pandemic, so the government has to assume new debt well over 100 billion euros, the source told Reuters .
The pandemic is also causing oil to fall.
The barrel of Brent oil for delivery in December today fell nearly 5,49% on London's Intercontinental Exchange Futures to $ 38,94, due to fears of increased covid-19 contagions in Europe and the United States. But it is not just North Sea oil, a reference in Europe, that falls. West Texas crude in the US is down 6,04% to $ 37,18.
The euro fell 0,42% to $ 1,1747.
In the public debt market, Germany has interest falling 1,09 basis points to -0,63%; Portugal, by contrast, increased its risk premium compared to the German benchmark, as interest rates rose 1,9 basis points to 0,15% in the secondary market. Likewise, Spain sees interest rates rise 2,01 basis points to 0,18% and Italy has sovereign interest on 10-year debt soaring 6,54 basis points to 0,76%.