Portuguese stock exchange driven by Jerónimo Martins, EDP and EDP Renováveis

PSI 20 follows the optimistic sentiment of the main European markets.

After three consecutive sessions to start the session down, the main Portuguese stock index (PSI 20) trades this Thursday in positive territory, valuing 1,06%, to 3.929,9 points. The PSI 20 follows the optimistic sentiment of the main European markets.

The optimism shown by European investors is related to the earnings season, which begins to reveal that companies are making gains above expectations, despite the effects of the Covid-19 pandemic.

On the Portuguese stock market, Jerónimo Martins increased 2,17%, to 14,34 euros, after having shown gains in the third quarter. The owner of Pingo Doce recorded a profit of 219 million euros until September, which corresponds to an 18% drop in year-on-year terms.

PSI 20 also benefits from the gains of EDP Renováveis. The listed company adds 1,42%, to 15, 68 euros, after having revealed before the opening of the market that in the first nine months of the year it recorded profits of 319 million euros, which represents a 7% drop compared to 342 million year on year.

Still in the energy sector, EDP, which presents results this Thursday, gains 1,54%, to 4,23 euros.

The gains of Galp (0,50%), Pharol (1%) and NOS (0,88%) also contribute to the upward trend of the PSI 20.

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