The Lisbon Stock Exchange closed the day with gains, boosted by the energy sector and an international trend. The PSI-20 Index rose 0.4% to 5,663.98, with 13 of them marked in green, five in red and one (REN) unchanged.
Galp Energia was the leader in growth, gaining 2.44% to 9.82 euros per share, in response to the dynamics of the oil market. Both Brent and WTI are up more than 1.5% after the US Department of Energy announced that the country’s crude oil inventories fell more than expected.
EDP Renováveis, on the other hand, rose 1.07% to € 19.91. BNP Paribas Exane has revised up its recommendation for EDP Renováveis and, despite the target price cut, maintained its outlook above the market consensus.
Listed companies such as Navigator (+ 0.95%), Nos (+ 0.59%) and CTT (0.45%) also closed in the green. Jerónimo Martins rose 0.72% to € 20.96 before presenting its operational update to the market.
On the other hand, Mota-Engil had the biggest drop, losing 2.06% to 1.28 euros per share. Greenvolt and BCP lost more than 1%, while EDP and Altri also slipped.
Despite this, Lisbon followed the rest of Europe where major markets were negotiating. on the rise, encouraged by the speech of the President of the US Federal Reserve System. Jerome Powell assured that he would use all the tools at his disposal to curb inflation without harming the economy or the labor market.
The announcements come at a time when the escalating inflation is worrying and forcing central banks to scrap incentives imposed by the pandemic. The Stoxx 600 added 0.65%.
(news updated)
