CTT and Galp lead losses on the Lisbon stock exchange. Europe closes in fall with Lagarde alerts

"The sentencing of the ECB president was punished by the sentiment that the unexpected increase in infections is a" clear risk "for the economic prospects in the region, as the outbreak continues to spread in Europe and countries increase restrictions", says the market analyst at Millennium bcp.

The PSI-20 closed the session on Wednesday at 4.139,48 points, down -0,76%. Leading the losses were CTT shares (-4,17% to 2,30 euros) and Galp (-2,92% to 7,86 euros). Ibersol slid -2,28% to 3,86 euros, with the second wave of Covid-19 affecting the restaurant sector.

Also noteworthy is Novabase, which decreased 1,73% to 3,410 euros and Navigator, which lost 1,15% to 1,99 euros.

On the upside, Mota-Engil shares closed, which rose 0,88% to 1,142 euros, Sonae, which closed up 0,58% to 0,5180 euros and BCP, which recovered from past losses and rose 0,39, 0,0773% to XNUMX euros.

ECB President Christine Lagarde raised concerns about the pandemic and this punished sentiment on the stock markets.

“Punishing sentiment were the statements by the President of the European Central Bank that the unexpected increase in infections is a“ clear risk ”for economic prospects in the region, as the outbreak continues to spread in Europe and countries tighten restrictions ”, Says Millennium bcp market analyst Ramiro Loureiro, in his analysis.

The losses to be practically generalized to all sectors in the Stoxx600 universe, except for natural resources. EuroStoxx fell 1,46% to 3.180,7 points. In the business world, Ericsson soared almost 10% after presenting its accounts.

The FTSE 100 lost 1,91% to 5.776,5 points; CAC decreased 1,56% to 4.852,16 points; the DAX fell 1,41% to 12.557,64 points; the FTSE MIB fell 1,88% to 19.116,4 points and the IBEX closed down 1,68% to 6.811 points.

Today, the International Monetary Fund warned that there may be a lack of liquidity in European companies from the end of this year, according to regional economic perspectives.

The euro is up 0,41% to $ 1,1871.

In the sovereign debt market, German 10-year debt worsens 1,78 basis points to -0,59%. While the Portuguese rose even more (+2,28 basis points) to 0,18%. Spain sees interest rates rise 2,17 basis points to 0,20% and Italy has 10-year interest rates rising 5,4 basis points to 0,78%.

In oil, Brent in London drops 2,99% to $ 41,87. WTI crude in the US is down 3,38% to $ 40,29.

According to XTB, oil inventories fell less than expected. At “WTI Crude Oil, the price broke below 50 SMA (green line) after the release of today's EIA report”.

XTB reveals in an analysis today that “US oil inventories fell 1,001 million barrels in the week ending October 16, after a 3,818 million drop the previous week and compared with analysts' estimates of a fall in oil prices. 1,021 million, according to the EIA Petroleum Status Report ”.

According to the same analysis, “Cushing's crude oil inventories fell to 0,975 million barrels, after an increase of 2,906 million barrels last week. While gasoline inventories increased by about 1.895 million barrels, after a drop of 1.626 million in the previous period and above analysts' expectations of a decline of 1.829 million barrels ”.

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