CTT falls more than 3% on the Lisbon Stock Exchange

  • ECO News
  • 11 November 2019

The Lisbon square closed in red on a mixed day for the other European squares. In Lisbon, BCP's performance weighed heavily, but the CTT fell by more than 3%.

After two days of rises, the national scholarship closed its first session of the week in the red. The PSI-20 suffered the negative pressure of the “heavyweights” BCP and EDP Renováveis. But, after a fall of over 3%, CTT was the negative highlight of this session in Lisbon.

PSI-20 depreciated 0.24%, to 5,294.47 points, with seven of the 18 titles in red, one unchanged – REN, in the 2.75 euros per share – and the remaining ten on the rise. The other European indices were divided between gains and losses, on a day marked by the aftermath of the elections in Spain that gave the victory to the PSOE, but more difficult to form Government. Spanish IBEX index ended up losing a slight 0.06%.

The 1.02% drop in BCP shares to 21.43 cents influenced the negative sentiment seen on the national stock market. This was a day where Moody’s lowered the outlook for the ratings of Portuguese banks from “positive” to “stable”, justifying the decision with the slowdown of the national economy.

A further negative note was the fall in EDP Renováveis, whose shares closed with losses of 0.58%, to 10.22 euros, and in contra cycle with the parent company EDP, which amounted to 0.14%, to 3.69 euros.

However, the negative highlight of this Monday was CTT. The company’s securities and couriers presented the second-worst register of the PSI-20, suffering a fall of 3.43%, to 3.044 euros.