CTT decrease 3% to a new low. The title has lost 27% in four days

  • ECO News
  • 3 November 2017

CTT is once again Lisbon's index ugly duckling. Nonetheless, energy companies are the ones dragging PSI-20 down by around 0.5%.

CTT started off the day in the market with an increase, but quickly reversed its path: its shares are loosing around 3%, reaching new historical minimums. Since Tuesday, the title has lost 27%.

PSI-20, Lisbon’s reference index, took of devaluing 0.55% to 5,417.05 points this Friday, with nine negative titles and eight in positive grounds. CTT’s shares stand out again for reaching a new low at 3.63 euros, corresponding to a 4.02% fall. The shares of the company headed by Francisco de Lacerda are loosing 2.86%, at 3.67 euros, which extends losses to almost one quarter of the amount registered in the three previous sessions.

CTT’s securities continue being harmed by investors’ negative perspectives because of CTT’s poor results and also because of the consecutive downward revision of investment companies’ assessment. Goldman Sachs, for example, is one of the most recent examples: according to Bloomberg, the investment bank decreased its recommendation for the security from “purchase” to “neutral”.