Since the beginning of the month, the postal operator has been recovering. Despite the strong gains, not enough to erase the 10% drop since the beginning of the year.
It’s been six months since CTT was worth as much in the stock market. After a period of strong turbulence that pushed securities to historic lows, the share price has been recovering since the beginning of the month. In the last two days alone, stocks have already appreciated 10% in the PSI-20.
CTT reached 5% this Thursday in the PSI-20 to 2.66 euros per share, to the highest value in almost six months. The postal operator maintains the trend of strong gains, which was only interrupted this week on Tuesday. Both in the last session and on Monday, the titles had added more than 4%.
In the 17 sessions negotiated in October, CTT depreciated in only four. Although the company did not manage to clean up its losses this year – it still accumulates a devaluation higher than 10% in 2019 – the recent gains put an end to a black period for the postal operator.
Changes in leadership, the increase in complaints and the price reduction ordered by Anacom were among the main causes for CTT to sink on the stock exchange in recent months. Five years ago, the securities traded for the first time below two euros and, on 15 August, touched the historical low of 1.761 euros per share.