Stock market closes with benchmark up 0.7% led by BCP up 4.42%

The Lisbon stock market closed higher on Monday, with the PSI index rising 0.69 % to 6,572.24 points, supported by strong rises from BCP and Jerónimo Martins. Of the 16 listed companies that make up the stock market’s benchmark index, five were up, 10 were down and one was unchanged.

BCP bank led the risers and advanced 4.42% to €0.33, at 2018 highs, after it was announced that it would be returning to the Stoxx Europe 600 index on 18 December.

Jerónimo Martins stood out with a rise of 3.70% to €23.52.

EDP (0.82% to €4.43), REN (0.41% to €2.45) and Sonae (0.22% to €0.92) were also in positive territory.

In the biggest drops, Greenvolt lost 2.48% to €6.88 and Galp fell 2.45% to €13.51.

CTT dropped 1.25% to €3.55, Mota-Engil fell 1.02% to €3.88 and EDP Renováveis fell 0.72% to €16.59.

Corticeira Amorim fell 0.55% to €9.08, on the day that its shareholders approved, at an extraordinary general meeting, the company’s interim balance sheet up to September and the distribution of a gross dividend of nine cents per share, totalling €11.97 million.

The main European stock markets ended divided between gains and losses. London fell 0.22%, Paris 0.18% and Milan 0.05%, but Madrid rose 0.37% and Frankfurt recorded a slight increase of 0.04%.

The price of a barrel of Brent crude, the benchmark oil in Europe, fell to US$78.60, when it had closed at US$78.88 on London’s Intercontinental Exchange Futures (ICE) on Friday.