BCP rises but not enough to help the Lisbon Stock Exchange

  • ECO News
  • 3 October 2019

The main Portuguese index fell 0.34% to 4,865.83 points this Wednesday.

This Wednesday in Lisbon Stock Exchange, BCP traded higher and higher closed in Lisbon: stocks closed to gain 3.87% to 19.07 cents – analysts say the bank led by Miguel Maya had room to recover from the sharp declines of recent weeks.

BCP’s rise was not enough to leave the Lisbon Stock Exchange in positive territory. The PSI-20, the main Portuguese index, fell 0.34% to 4,865.83 points, due to pressure from Altri and Navigator paper mills. Since they export a large part of their production, they could be the most affected in the trade dispute between Europe and the USA. Altri saw its shares fall by almost 3% and Navigator lost 2.77%. Semapa, which controls 70% of Navigator, was dragged and sold 1.57%.

On the outside, the Stoxx 600 closed virtually unchanged. With the Frankfurt stock exchange closed, the Milan and Paris markets gained 0.1% and 0.3% respectively. Madrid lost 0.33%.