Lisbon escapes falls. Brexit agreement doesn’t help Europe

  • ECO News
  • 17 October 2019

There is once again a technical agreement for Brexit, but investors are expectant about the difficulties in approving these terms. Lisbon escaped the losses by hitchhiking with NOS.

A new technical agreement was reached between London and Brussels for Brexit to boost European stock markets, but investors quickly took note of the difficulties that were expected in the process of approving these terms, which led the Old Continent squares to return to negative “terrain”. The Lisbon stock exchange managed to escape the losses of NOS, which rose by more than 3%.

The national reference index, the PSI-20, ended up valuing 0.28% to 5,013.78 points. The Stoxx 600 also closed the penultimate session of the week on positive ground, advancing 0.1%. In the opposite direction, and after strong rises, the French CAC 40 fell 0.15% and the Spanish IBEX retreated 0.31%.

In Portugal, NOS was pulling the Lisbon stock exchange, whose securities rose 3.29% to 5.33 euros, benefiting from a research note from Credit Suisse. In energy, EDP Renováveis shares rose 0.72% to EUR 9.76 and Jerónimo Martins shares rose 0.63% to EUR 15.18.

In negative territory, EDP was highlighted, whose shares fell 1.67% to 3.525 euros, after revealing a drop in energy production in the third quarter. BCP also stood out in the falls, with securities falling 0.9% to 19.82 cents.