BCP and Jerónimo Martins pulls Lisbon Stock Exchange down

  • ECO News
  • 18 October 2019

The Lisbon Stock Exchange closes the week in fall with only 4 quoted on positive ground. The PSI-20 fell for the first time in 4 sessions.

Lisbon Stock Exchange ends the week on the left foot. The PSI-20 index fell for the first time in four sessions, in line with the European pairs. BCP and Jerónimo Martins were pulling the carpet from the Lisbon square on the day it was revealed that Biedronka, the retailer’s Polish company, is being investigated by the authorities.

The PSI-20, the Portuguese reference index, depreciated 0.73% to 4,977.16 points, with only four of the 18 securities in positive territory.

Jerónimo Martins was the highlight of the Lisbon Stock Exchange, having lost 1.42%, trading at 14.96 euros, heavily penalized by the investigation of the Polish regulator. This Friday UOKiK announced that it will investigate the way Biedronka’s prices, held by Jerónimo Martins, are presented to customers. At stake are several complaints presented by consumers who allegedly paid a higher amount in the box than the one presented on the shelves.

On the other hand, BCP gave up 1.97%, trading at 0.19 euros. Both the bank and the retailer were trading on negative ground throughout the session. Lisbon is also penalizing EDP Renováveis, which ended up falling 0.51%, on the day it announced to the market that it will join a consortium in South Korea to build a floating wind farm. The parent company EDP lost 0.14%.

The worst performance among the listed companies belonged, however, to Mota-Engil, which slipped 2.52% to 1.94 euros per share. With only four listed companies reversing this trend, CTT and Semapa stand out. The postal operator closed with a gain of 1.20%, while the paper mill rose 0.48%.