BCP rises more than 4% and pulls the stock market

  • ECO News
  • 26 September 2019

BCP broke the cycle of falls and appreciated over 4%. Lisbon ended on positive ground but with Semapa, Nos and Mota-Engil falling more than 1%.

In line with the other stock exchanges of the old continent, Lisbon finished the penultimate session of the week on positive ground. Pushing through the national square was the BCP, whose titles were the biggest gains of the day, having advanced more than 4%. In the red were Semapa, Nos and Mota-Engil.

The national reference index appreciated 0.64% to 4,906.45 points. The PSI-20 followed the trend recorded in Europe’s stock markets, with the Stoxx 600 adding up to 0.7%, the German DAX rising 0.4%, the French CAC 40 advancing 0.6% and the Spanish IBEX increasing 0.1%.

BCP was the listed company that saw its securities appreciate the most in this session. The shares of the bank led by Miguel Maya rose 4.07% to 0.1843 euros, after a cycle of four sessions in decline. The positive evolution recorded this Thursday is partly due to the influence of the external environment, with fears of an impeachment of Donald Trump away.

This positive sentiment is allowing the listed company to resist the news about Bank Millennium, the Polish bank of the BCP group. Citigroup passed on the recommendation of the respective shares to “sell” (from the former “neutral”) and cut the target price to PLN 5.80 per share, compared to the previous estimate of PLN 8.50.

On a positive note, EDP is also worthy of note. EDP Renováveis shares advanced 1.54% to 9.90 euros and EDP shares amounted to 0.85% to 3.551 euros.

CTT securities also appreciated 0.67% to 1.948 euros. In retail, Sonae’s shares advanced 0.42% to 0.8425 euros and those of Jerónimo Martins amounted to 0.39% to 15.45 euros.

On the other side of the line, Semapa saw its securities fall 1.53% to 11.56 euros. Nos shares fell 1.20% to 4.94 euros and Mota-Engil shares lost 1.15% to 1.813 euros.