Portuguese stock exchange accompanies Europe on the rise. EDP ​​and Sonae Capital boost PSI 20

PSI 20 started to gain 0,58% to 4.375,96 points, in line with the main European counterparts.

Benoit Tessier / Reuters

The main Portuguese stock index (PSI 20) started to gain 0,58% to 4.375,96 points, after having closed down in the last session. The PSI 20 negotiates online with the main counterparts.

European stock exchanges kicked off the session after the Nasdaq, the Wall Street technological index, hit new historical highs in Wednesday's session. Investor sentiment is also supported by expectations about an eventual treatment for Covid-19, knowing that the pharmaceutical company Pfizer has successfully carried out tests on a vaccine.

Asian stock exchanges also optimize investor sentiment in Europe, despite the tensions generated by the new Chinese security law for Hong Kong. Yesterday, the US House of Representatives unanimously passed a bill that imposes sanctions on banks negotiating with Chinese officials involved in cracking down on Hong Kong protesters.

However, the increase in the number of new coronavirus cases in the United States, which for the first time exceeded 50 cases in just one day, may have an influence on investors' disposition.

On the Portuguese stock exchange, of the 18 listed companies, 13 are trading higher, two are devaluing and three are trading without variation. The PSI 20 is driven by gains from EDP (1,75%) and Sonae Capital (1,57%).

But heavyweights BCP (0,28%) and Galp Energia (0,29%) also contribute to a good performance. Also noteworthy for NOS, which yesterday traded under ex-dividend and today gains 0,44%, to 3,64 euros.

Highlight for REN, which grew 0,61%, to 2,455 euros, after reporting to the market a drop in electricity demand in Portugal in June. Demand decreased 7,4% year on year, a variation that, when adjusted to temperature effects, increases to 7,7%. In May there had been a 13% decrease.

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