During the first session of the week, Altri and Navigator's stocks increased their value by 2%. Benchmark index closed with a positive value even if the increase is very slight.
Altri’s and Navigator’s stocks earned the spotlight of this weeks’ opening session at Lisbon’s stock market. The national stock market’s first session had a positive ending, even though there is a big weight on the market coming from the devaluation of BCP’s stocks.
As Monday’s session closed, PSI-20 had increased by 0,32% (5611,54 points). Elsewhere in Europe, Stoxx 600 went down by 0,2%, the German Dax lost 0,3% and the Spanish Ibex lost 0,3%. The tension between China and the US is escalating, leaving European markets in absolute shambles.
“China is not pleased with the trade policies the USA has been applying, and this is a disastrous political plateau as it might make China react with a $60bn plan to break the new tariff barriers”, Carla Santos, a trader at XTB, explains to Reuters.
According to the analyst, the tension transpiring from this trade war attached to the fact that there is a natural cooling down in enthusiasm during results season can make the tendency to fluctuate more aggravated, producing market volatility and market failures.
In Portugal however, the good outputs observed in our stock market today were mostly associated with the performance of the papermakers Altri and Navigator. Altri’s stocks increased by 1,95% reaching a €8,88 value per share, while Navigator’s stocks increased by 1,92% and a €4,998 value per share. Semapa’s shares also increased, by 1,48% to €20,60 per share.
Last week, Altri announced it would buy the 50% of the remaining shares they needed to control EDP Bioeléctrica, through its subsidiary Caima Indústria de Celulose, for €55m. This made Monday investors motivated towards purchasing Altri’s assets.
Galp’s assets also followed today’s increasing trend, rising 1,15% to a €17,62 value per share, despite it having been a “dark day” for the international markets. Brent oil prices in futures markets increased 1,11%, with the price of a barrel of oil reaching §74,02.
Weighing down on the PSI-20 were BCP’s stocks, which had a 0,8% setback, falling to €0,259 per share, and Mota Engil, which fell by 0,52% to €2,845.