PSI 20 loses brightness and trades low. Galp, BCP and Jerónimo Martins put pressure on the stock market

The market sentiment is being marked by the new confinements enacted in France and Germany that will have economic consequences.

The PSI 20 lost its shine and is trading lower mid-morning, falling 0,43% to 3,872.00 points.

The national stock market is being pressured by the declines of Galp, Millennium bcp and Jerónimo Martins.

The Portuguese energy company yields 1,05%, to 6,79 euros, penalized by the fall in the price of oil. In London, Brent's barrel fell 3,73% to $ 38,17. In the United States, WTI yields 4,01% to $ 35,89.

BCP securities, which this afternoon show the results for the first nine months of the year, are losing 1,42%, to 0,0693 euros. Jerónimo Martins, which presented results this wednesday, loses 2,28%, to 13,72 euros.

Around 11:30 am in mainland Portugal, there are 13 listed shares trading low, one unchanged (Sonae Capital) and four up, led by the gains of EDP Renováveis, which advanced 1,94%, to 15,76 euros, with the market to react positively the decrease in profits in the first nine months of the year in year-on-year terms.

Among the main European markets, the trend is now negative. Only the British FTSE 100 trades slightly higher. Ibex 35 is the most penalized index for the time being, yielding 1,42%, to 6,382,80 points, punished by the devaluations of Inditex and Telefonica.

The market sentiment is being marked by the new confinements enacted in France and Germany that will have economic consequences - the German closure is partial.

Investors are now focusing on the meeting of the Governing Council of the European Central Bank, which will announce the decision on monetary policy this Thursday, at 12:45 pm in mainland Portugal.

Read more

Related

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

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

'Falcons' vs 'doves' at the ECB. Lagarde will give strong signal, but tensions should postpone stimuli

The eurozone central bank is again divided between those who want more stimulus now and those who prefer to wait. Christine Lagarde has room to maneuver and should wait until December, when she has new projections and a better view on political risks. Today's message should therefore be a promise to act in the face of increased risks.

EDP ​​Renováveis ​​profits fall 7% until September

The fall in profits is due to the decline in electricity production, which in turn is due to the sale of assets with a power greater than 1 gigawatt.
Recommended

Jerónimo Martins approves dividends of 13,8 cents per share

The payment of the dividend to shareholders - 86,7 million euros - will take place on December 16.

PSI-20 closes with slight losses in the day that 10-year interest rates traded at negative rates for the first time

The main Portuguese stock index closed with a depreciation of 0,46% to 4.607,25 points. It is the first fall after five sessions to negotiate on 'green'. The Lisbon square, which started with gains, ended up being penalized by the devaluations of BCP and Galp.

History: 10-year Portuguese debt interest traded at negative rates for the first time

Despite the crisis caused by the pandemic, the action of the European Central Bank (ECB) has benefited the cost of Portuguese debt. Interest today reached -0,001%.
Comments