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CTT Adjusted Nearly 4% In One Day For PSI-20 – Markets

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CTT Adjusted Nearly 4% In One Day For PSI-20 - Markets

CTT corrected for the second session in a row on the Lisbon Stock Exchange, ahead of the index, which closed unchanged. PSI-20 advanced only 0.02% to 5.153.07 points, nine of which are indicated in red, eight – in green and one – unchanged. In addition to the postal operator, BCP and Semapa suffered significant losses, while Galp Energia controlled oil production.

After Friday shooting in response to results presentationCTT fell on Monday and Tuesday. In the latter case, the decline was 3.92% to 4.41 euros per share, which means that the price has returned to the position in which it was before settlement.

“This is a normal technical correction after gaining almost 100% YTD and after the correction recorded in mid-July,” explains Negotsiosu Mario Martins, analyst at ActivTrades. “There is also an adjustment in fundamental indicators, since the normalization of economic activity reduces the need for the transportation of goods, which were in great demand during the period of imprisonment.”

Together with CTT, BCP (which lost 1.34% to 0.125 euros per share) and Corticeira Amorim (which fell 0.9% to 11.32 euros) also closed in the red. On the other hand, Altri was the leader of growth, which rose 1.36% to 5.23 euros per share. Mota-Engil rose 1.17% to 1.29 euros per share after strengthening its business in Mozambique. Vale’s mining contract to be extended by two years, now totaling US $ 871 million (equivalent to approximately € 742 million).

Galp Energia, by contrast, rose 1% to € 8.50 after investing in oil. Prices for “black gold” continue to risedriven by increased demand in Europe and the United States, which lowers fears of an increase in coronavirus cases in Asia.

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The West Texas Intermediate (WTI), the benchmark for the US, for September delivery added 3.01% to $ 68.48 a barrel. The September contract for North Sea Brent crude, signed in London and a benchmark for European imports, will rise 2.52% to $ 70.78.

Despite a slight increase, PSI-20 was still able to close in the green zone and follow other European areas. The Stoxx 600, which consolidates the major European stocks, added 0.4% to hit new highs. The Spanish IBEX 35 gained 0.32%, the German DAX rose 0.2% and the French CAC 40 gained 0.1%.

(News updated at 5:10)

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Economy

Apple is preparing a strategy to transfer production from China

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Ilustração Apple na china

Apple is one of the largest companies using factories in China to manufacture its products. However, the American giant is looking to diversify its supply chain even more, given the global situation in China, both in terms of public health and government policy.

The production of the top models of the iPhone 14 Pro and Pro Max has been hit hard by problems at the factories in connection with the measures of the Chinese authorities to combat Covid-19.

Protests are raging in China the likes of which have not been seen in more than 30 years. The zero tolerance policy in the context of the pandemic has caused serious discontent and upheaval in society.

These demonstrations, protests and clashes with the authorities spilled over into factories and the market in general. Beijing, after tightening measures, has already shown that it may have to change its policy regarding the fight against the pandemic.

Apple begins to look to the future outside of China

In recent weeks, Apple has accelerated plans to move some of its production out of China, the dominant country in the supply chain that has created the most valuable company in the world, according to information from people involved in these processes.

The Cupertino-based company has begun asking its suppliers to more actively plan to assemble Apple products in other Asian countries, especially India and Vietnam.

according to InformationApple wants to reduce dependence on Taiwanese factories led by the Foxconn Technology group.

Riots in a place called iPhone City spurred Apple's move. In the giant city of Zhengzhou, China, about 300,000 workers work at Foxconn's iPhone and other Apple products factory.

At one point, the device accounted for 85% of the iPhone Pro lineup, according to analytics firm Counterpoint Research.

The Zhengzhou plant was the scene of violent protests last November. As we can see in the video above, the workers complained about harassment by the authorities to implement a zero tolerance measure to combat the pandemic.

After a year of events that have undermined China's status as a stable manufacturing hub, the unrest means Apple is no longer comfortable with so much of its business tied up in one place, analysts say.

iPhone 14 Pro sales may suffer due to low production

Apple released the iPhone 14 and its sales continued to have a big impact, even breaking records during a volatile time in the smartphone market.

According to Ming-Chi KuoApple's market analyst said fourth-quarter iPhone shipments were about 10 million units below market forecasts made before the Zhengzhou protests.

The high-end iPhone 14 Pro and Pro Max models were particularly hard hit, according to the analyst.

There were protests in Beijing last week against the strict measures against Covid.

Apple and China have enjoyed a relationship for decades that has so far been mostly mutually beneficial. Change won't happen overnight. Apple continues to release new iPhone models every year and also constantly upgrades its iPads, laptops, and other products.

Basically, Tim Cook will have to keep flying the plane by changing the engine.

So if current events warrant thought, Kuo says the Cupertino-based company's goal would be to move 40% to 45% of its iPhone production from China to India. In addition, Vietnam will be able to increase production of other Apple products such as AirPods, Apple Watch and Macbook.

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Economy

BMW suspension recharges battery in bad ground

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Suspensão da BMW recarrega bateria quando há mau piso

BMW creates something new! It is true that the electric vehicle segment has been innovative, but there is certainly much more to be discovered and improved. In the field of vehicle autonomy, research is still focused on batteries, but there may be mechanisms to recharge the battery while vehicles are in motion.

BMW is developing a suspension that can generate energy in the face of uneven road conditions and thereby recharge the battery.

The BMW suspension is actuated and generates energy that is used to recharge the battery.

Electricity is critical to driving electric vehicles. In addition to the energy stored in batteries, which provide a certain amount of autonomy, it would be interesting if the vehicles themselves generate energy while driving. It is in this sense that BMW is working on a solution in which the suspension is used as energy generating equipment.

In practice, when the suspension works to smooth out uneven floors, energy is generated and stored in the battery.

BMW suspension recharges battery in bad ground

This BMW suspension, as far as we know, will be used exclusively in electric vehicles. There is no word yet on when it will become part of the German brand's electric model.

It should be noted that traditionally, the energy of the vehicle's wheels moving over irregularities is absorbed by the spring suspension elements, and then this energy is dissipated in the form of heat by shock absorbers. The job of shock absorbers, as the name suggests, is to dampen the shock, resulting in a smoother ride.

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Economy

Fuel prices won’t drop next week! I know why…

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Fuel prices won't drop next week!  I know why...

Every week, the Portuguese live in anticipation of whether fuel prices will rise or fall.

Last Friday there was the first information that the cost of fuel will continue to fall … and will! However, there is a variable that will rise and possibly offset lower gasoline and diesel prices. Find out what has changed since then.

Fuel: ISP discount will be reduced...

The price of fuel will not fall at the beginning of the week because the government has decided to cut the discount that applies to the tax on petroleum products (ISP), according to Porto Canal.

Tax on petroleum products (NPT) is one of the excise taxes provided by law. It applies to gasoline and diesel as well as other products, oil and energy, hydrocarbons and electricity.

The tax will be reduced by 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline. The decision should cancel forecasts for falling fuel prices next week, which indicated minus 3 cents for diesel and minus 1 cent for gasoline.

The price of diesel fuel may remain unchanged, but gasoline should rise in price by 1.5 cents from Monday. Diesel falls seven weeks in a row, and gasoline a month.

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