Connect with us

Economy

Lisbon falls short of European success due to pressure from EDP Group – Stock Exchange

Published

on

PSI-20 renews 3-year highs with 3% gains for EDP and BCP - Stock Exchange

The near-isolated BCP valuation was not enough to keep the national stock market above the waterline on the day the EDP group lost gas again in the European energy crisis. The PSI-20 index closed the session on Thursday, losing 0.20% to 5,337.34, contradicting the gains recorded elsewhere on the “old continent”.

The bank, led by Miguel Maia, was one of the few (4) companies that managed to close the day at a high, climbing 1.56% to 13.05 cents per share. But this afternoon performance was even more grateful. well above 3%.

On Wednesday, the CEO of the Polish bank BCP Joao Brasch Jorge gave an interview to the agency. country, PPA, ensuring that Bank Millennium continues to work towards reaching out-of-court agreements with its clients regarding mortgage loans provided in foreign currencies, in particular Swiss francs.Another company that has established itself in positive territory is Galp Energia, which rose 0.62% to EUR 8.40 per share, thanks to the recent rise in oil prices. While both Brent and North American WTI are correcting today, they hit their highest levels since July after four days of gains yesterday.

On the other side of the barricade, there were 12 companies in decline, including two listed companies of the EDP group, which lost about 1%. The EDP lost 1.28% to € 4.64 per share, while the Renováveis ​​EDP lost 0.64% to € 21.72. The same trend was observed in other companies in the sector at a time when Europe is experiencing a crisis in energy prices. Spain’s Iberdrola hit lows in more than a year.

See also  China Cuts Interest Rates Amid Dismal Economic Results - Markets

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

From taxes to wages. Six CMVM Proposals to Encourage Savings – Markets

Published

on

From taxes to wages.  Six CMVM Proposals to Encourage Savings - Markets

Taxation plays a central role in encouraging long-term savings. This is the conclusion of a study by the Securities Market Commission (CMVM) on the subject, which identifies six main measures highlighting the importance of encouraging the savings of Portuguese families who reduced and mostly stored in warehouses.

“Long-term saving plays a fundamental role in improving the financial security and well-being of individuals and families, as well as in financing companies and the economy as a whole. It is very difficult and often difficult, especially for families,” points out from a document published in World Investor Week.

That is why states encourage and support the formation of these savings, namely through tax incentives. Portugal is already including some of these exemptions in its tax system, but the regulator believes more are needed. Here are six measures:

1. Favorable taxation for the new “European NDP”.

The Pan-European Reform Product (PEPP), which came into force in March 2022 national regulation was promised government by the end of this year – is the goal of the first recommendation. The CMVM calls for the creation of a PEPP tax regime “in line with the government capitalization regime”.

This equalization will mean tax deductions for PEPP subscribers, tax exemption for PEPP investment portfolios, and more tax-friendly treatment of payments made by PEPP to its subscribers when they subsequently gain access to benefits.

2. European investment funds

With regard to European products, the CMVM is also considering European Union long-term investment funds (ELTIF), requiring that the tax treatment for collective investment bodies apply to both this product and credit funds, allowing their holders to benefit. from tax deferral on redemption or reimbursement in case of reinvestment.

See also  Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Roared Back to Lifestyle This Morning

3. PPR style savings accounts

CMVM’s second proposal is to create individual retirement savings plans or accounts that are eligible for the Savings and Retirement Plan (PPR) regime. In other words, these would be accounts in which depositors could place their savings up to a certain amount, as well as buy and transact financial instruments on them.

4. Reformulation of the IRS collection

A reformulation and increase in the IRS collection deduction applied to long-term retirement savings products (depending on the various ways this can be done) is seen as necessary to encourage long-term savings.

5. Reinvestment of capital in deferred tax funds

Postponing the taxation of redemption or reimbursement of investment funds in case of reinvestment is also one of the measures. In the case of transfers between funds, the relevant taxation will only take place when the investor leaves the investment fund circuit and at rates that are all the more favorable the longer the investment in this circuit remains stable.

6. “Pair contributions”

In addition to taxes, CMVM also proposes the creation of programs to encourage long-term savings by establishing upfront commitments between companies and workers to save on future wage increases. According to the watchdog, these “coincident contributions” would allow deferral of repayments or refunds of taxes in the event of a reinvestment.

“Saving to achieve specific long-term goals allows families to increase their own funds to meet these expenses, reduce credit use, monthly efforts of families associated with a reduction in credit and the risk of default for the financial sector. “, he emphasizes.

See also  Airbus kidnaps one of Boeing's major customers in Europe and sells 100 KLM aircraft

CMVM adds that the application of long-term savings in financial instruments tends to be advantageous because the return on savings applied to them tends to be higher than the return on other financial products such as bank deposits.

Continue Reading

Economy

Red tide in Europe. Eurozone interest rates worsen – markets in a minute

Published

on

Red tide in Europe.  Eurozone interest rates worsen – markets in a minute

Natural gas extends losses after Gazprom’s supplies to Italy resume. Oil maintains uptrend

Oil has benefited from a price rally as investors anticipated the biggest cut in oil production adopted by OPEC+ since 2020.

The group will cut capacity by two million barrels a day, more than double what was originally envisaged, and the cut will help balance oil prices at a time when the global economy is expected to slow down.

“A cut of two million barrels a day shows how aggressive they want to be on prices,” said Vishnu Varatan, Asia head of economics and strategy at Mizuho Bank.

In response, West Texas Intermediate (WTI), traded in New York, has risen 9% over the past two sessions to break $86 a barrel. By 08:00 Lisbon time, WTI was at the waterline, adding a very small 0.03% to $86.55.

Brent crude, traded in London and a benchmark for the European market, rose 0.17% to $91.96 per barrel.

In turn, natural gas (TTF) prices, which reached July lows yesterday in the Amsterdam market, continued to decline this morning, falling by 1.2% to 160 euros per megawatt-hour.

Raw materials continued to fall after Gazprom announced this Wednesday that it would resume gas supplies to Italy. The Russian company “together with Italian buyers managed to find a solution” after the September regulatory changes in Austria, which made it difficult to supply gas to Italy, Gazprom said in Telegram.

See also  Jack Dorsey Drops Leader On Twitter
Continue Reading

Economy

TAP orders dozens of BMWs for CEOs and top directors – Observer

Published

on

TAP orders dozens of BMWs for CEOs and top directors - Observer

TAP has ordered dozens of BMW vehicles for its executives and top directors, plugin hybrids and with a market value of 52 to 65 thousand euros. The vehicles, which will begin arriving early next year, will replace the airline’s current fleet of mostly Peugeot vehicles. promoted Tuesday on CNN Portugal.

TAP justifies the purchase of “plug-in hybrid vehicles instead of current diesel ones” on “environmental reasons”, as well as “tax incentives associated with these less polluting vehicles.”

At a time when TAP is pursuing a rescue program that amounts to 3.2 billion euros from taxpayers, CNN Portugal asked the airline why it is not considering lower cost vehicles. The company responded that “the options available to directors have also begun to include the brand. premiumas it has a higher rent compared to other brands thanks to a better residual value at the end of the contract.”

CNN Portugal reports that it had access to an initial order for 79 BMW Series 5, X2 and X3 vehicles. OUR the airline guarantees the availability of 50 “units” and that “a tender was held in the market in accordance with the TAP procurement guidelines and six companies in the Portuguese market were invited to participate” whose names were not released.

TAP also said it would spend less money on rent (monthly lease payments) of new fleet vehicles compared to the old one. However, he did not say what the monthly cost of the new fleet is.

THE PUB • CONTINUE TO READ BELOW

Continue Reading

Trending