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The PSI-20 index recorded the worst session since October 15, 2020, leading declines among Europe’s major markets, on a day when fear of a sudden spike in inflation pushed investors back.
Stock markets are crashing globally today, and investors fear that the Rising inflation will limit stimulus from the central bank and may even trigger some withdrawals, according to analysts.
Thus, the Lisbon Stock Exchange index was devalued by 2.43% to 4,705.01 points this Thursday, with practically all listed also in “red”.
In the domestic market, the highlight was EDP Renováveis’s 4.92% drop to 19.06 euros per share, in which it was the largest devaluation this week by the national share. In addition to EDP Renováveis, there were also decreases in EDP (-3.17%). The BCP (-3.92%) also registered strong falls to 12.01 cents per share and Galp Energia (-1.50%). THE CaixaBank BPI chose to lower the target price of the oil company from 12 euros to 9.60 euros, pending news after the presentation of results that is scheduled for next week. Updating the dividend will be one of the key issues, and analysts see room to surprise investors on the bright side.
Corticeira Amorim lost 0.56% to 10.74 euros. The company’s net profit is expected to decline 15% year-on-year to € 64 million last year, from € 74.9 million in 2019, according to CaixaBank / BPI analyst estimates released today.
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