Portuguese stock exchange accompanies Europe in red. Galp and BCP put pressure on PSI 20

PSI 20 falls 0,37%, to 5.019,49 points, in line with the main European markets.

The main Portuguese stock index (PSI 20) started trading on negative ground this Monday. The PSI 20 falls 0,56%, to 5.010,85 points, in line with the main European markets. It is the seventh consecutive session that the PSI 20 has been trading downwards.

Among the main European counterparts, the German DAX loses 0,24%, the British FTSE slips 0,04%, the French CAC 40 falls 0,28% and the Spanish IBEX falls 0,11%. Exchanges are trading on negative ground, at a time when tensions between the United States and China are taking on new life. According to Reuters, Washington advising several North American Huawei suppliers that it will withdraw licenses for them to work with Chinese Huawei.

Investors are also looking forward to the inaugural speech by US President-elect Joe Biden, which will take place this Wednesday, January 20th. Investors hope to understand what Biden's plan for the economic crisis will be.

On the Portuguese stock market, Galp Energia stands out on a negative ground. The national oil company falls 1,52%, to 8,814 euros, at a time when the oil market trades down. Brent's barrel is trading at $ 54,66, down 0,78%. The WTI decreased 0,57%, to $ 52,11.

The “black gold” market is shrinking, at a time when the dollar, the currency that dominates trading, is negatively influencing the price of raw materials. In addition, the increase in cases of the new coronavirus is affecting demand.

Also in PSI 20, the breakdown of BCP also conditions trading in the national market. The bank led by Miguel Maya falls 1,38% to 0,128 euros.

Retail is also a focus of negotiation. The Sonae conglomerate depreciated 1,11%, to 0,714 euros, and Jerónimo Martins fell 0,84%, to 14,695 euros.

In the foreign exchange market, the euro depreciates 0,02% against the dollar, to $ 1,207. The eurozone currency appreciates 0,33% against the pound, to 0,891 pounds. The pound depreciated 0,36% in relation to the US currency, to $ 1,353.

[Information updated by last time at 8:30 am]

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