EDP, Galp and BCP put pressure on PSI-20. Europe remains in the 'red'

European markets continue the last session on Friday to trade in the red, with the Iberian indexes leading the losses. EDP, BCP and Galp press PSI-20, which falls 1,40%.

European stock exchanges continue this Friday morning to trade lower, “having exacerbated losses after the preliminary indication that activity in the euro area will have felt the impact of lockdowns in January, leading to a loss of momentum in the growth of the industrial sector and a worsening of the contraction in services and which, according to a study by "Bloomberg" should lead to the economic recession in the first quarter of this year ", considers the market analyst at BCP investment banking. Thus, the European Euro Stoxx 50 index falls 1,10% to 3.578,48 euros.

The Iberian markets lead the losses, with the Ibex 35, in Madrid, falling 1,58% to 7.994,00 points while here, the PSI-20 loses 1,41% to 4.984,61 points.

The quoted in the energy, retail and banking sectors put pressure on the Lisbon index: EDP loses 1,28% to 5,25 euros, at a time when it is known that the electricity distributed by the Portuguese company in the fourth quarter in Portugal contracted 2%. Galp remains in the 'red', losing 1,65% to 8,80 euros, at a time when the refinery in Matosinhos is in the process of being closed.

Jerónimo Martins pressures the PSI-20, falling 0,49% to 14,31 euros, along with Sonae which depreciates 0,28% to 0,7000 euros, while BCP slips 3,57% to 0,1190 euros.

In the United Kingdom, after Portugal cut air connections, it is now known that tertiary activity has experienced an aggressive degradation, pushing Ftse 100 to the water line (-0,72% to 6.665,25 points).

In the German business community, the market analyst notes the positive reaction to Siemens' accounts - which rise 4,52% to 129,71 euros -, as well as Volkswagen's - 3,66% to 168,16 euros - after reporting resilient figures 2020. Even so, the DAX follows European counterparts, sliding 0,86% to 13.786,50 points.

In Paris, the CAC 40 drops 1,15% to 5.526,58 points after Air France-KLM announces that it will cut jobs and Airbus advances that the production rate will remain low for longer.

Read more

Recommended

Warren Buffett's Berkshire Hathaway net profit fell 48% in 2020

“Last year, we demonstrated our enthusiasm for Berkshire's assets by repurchasing the equivalent of 80.998“ A ”shares, spending $ 24,7 billion in the process. This measure increased your position in all Berkshire businesses by 5,2% without requiring you to touch your portfolio, ”wrote the 'Omaha oracle' in the annual letter sent to shareholders.

PremiumLagarde and Powell allow for spot inflation

Monetary authorities intend to continue with their accommodative policy despite “one-off” rises in post-pandemic inflation.

Nasdaq was the only one to 'green' at the close of the session on Wall Street

Amazon, Apple, Microsoft and Alphabet closed with gains. The shares of Beyond Meat - the brand that revolutionized the industry by creating meat-flavored vegan foods - rose 1,30% to $ 145,62, after announcing an agreement with McDonald's and Yum! Brands.
Comments