Lisbon follows major European squares in decline. BCP and Galp penalize PSI 20

After the gains of previous sessions, driven by expectations about the start of the Biden administration in the United States, investors today are more cautious

The main Portuguese stock index (PSI 20) opened this Friday in negative territory. The PSI 20 fell 0,52% to 5.023,91 points, alongside the main European markets. The stock exchange session should give rise to corrections.

Among the main counterparts, the German Dax falls 0,25%, the British FTSE loses 0,30%, the French CAC 40 falls 0,35% and the Spanish Ibex depreciates 0,62%. After the gains of the previous sessions, driven by expectations about the start of the Biden administration, in the United States, investors today are more cautious. New stimuli to the economy and new restrictions to contain the Covid-19 pandemic make a dent.

Along with the other Member States, Portugal also announced on Thursday the interruption of flights with the United Kingdom. Add the statements by the president of the European Central Bank, Christine Lagarde, warning that the new coronavirus continues to pose a serious risk.

In Lisbon, Banco Comercial Português and Galp Energia lead the losses. The bank led by Miguel Maya sinks 2,84%, to 0,119 euros. This is followed by the national oil company, which fell 2,03%, to 8,77 euros, in line with the negotiation of raw materials.

In negative terms, Sonae (-0,71%), CTT (-0,40%) and EDP (-0,03%) also stand out.

The oil market trades down, due to weak prospects for recovery in demand and the rise of the dollar. The rise in the currency that dominates trading removes the attractiveness of “black gold”. In London, Brent fell 1,28% to $ 55,38, while WTI fell 1,43% to $ 52,36.

In the foreign exchange market, the euro depreciates 0,05% against the dollar, to $ 1,215. Against the pound, the euro zone's currency appreciated 0,44%, to 0,889 pounds. In turn, the pound depreciated 0,48% against the dollar, to $ 1,366.

[Information last updated at 8:30 am]

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