Lisbon opposes Europe with gains in CTT and EDP Group

  • ECO News
  • 31 October 2019

The Lisbon Stock Exchange escaped the losses recorded in Europe, one day after the presentation of positive results by CTT, EDP and EDP Renováveis.

The Lisbon Stock Exchange has counteracted the European trend and closed on positive ground. The main national index benefited from gains in the EDP Group and CTT shares, one day after the results presented by these companies.

While most European markets closed in red, with the pan-European Stoxx 600 falling 0.30% and the British FTSE 100 falling 0.90%, the Portuguese PSI-20 rose 0.17% to 5,119.62 points.

EDP Renováveis shares advanced 3.55% to 10.22 euros, a rise heralded by profits of 342.3 million euros gained by wind power between January and September. The EDP parent company gained 1.91% on the stock exchange, to 3.69 euros, after showing a 55% increase in profits in the nine months of the year which stood at 460 million euros.

It was also the results that led CTT to record the best performance among all those listed in this session. The postal company led by João Bento valued 3.77%, to 2.864 euros, renewing a maximum of eight months, after having seen profits almost double between January and September, to 22.9 million euros, as a result of the net contribution of 321 Credit and a positive tax effect, of an “extraordinary” nature.