Portugal: Stock market sees bank shares fall almost 10%

The Lisbon stock market was down today, accentuating the opening losses, with BCP shares down 9.48% to €0.12 and Galp Energia shares up 3.24% to €11.15.

Around 08:55 in Lisbon, the main stock market index, the PSI20, was down 2.59% to 5,193.94 points, with 17 shares down, of which 14 were down more than 2%, and two up.

BCP’s shares were followed by Altri and Navigator, which fell 6.58% to €4.84 and 5.70% to €2.81, respectively.

Other shares that depreciated the most were CTT, Sonae and NOS, which fell 5.08% to 3.92 euros, 4.95% to 0.87 euros and 4.04% to 3.23 euros.

In the same direction, the shares of Mota-Engil, Greenvolt and Semapa fell 3.43% to €1.18, 3.01% to €5.47 and 2.65% to €11.04.

Corticeira Amorim shares were down 2.38% to €18.46.

Besides Galp Energia’s shares, Ramada Investimentos shares were up 0.85% to €7.10.

In Europe, the main stock markets traded sharply lower today, accentuating the opening losses, due to the economic consequences of the invasion of Ukraine by Russia, with the price of oil skyrocketing, which may emphasise the already high inflation.

On Friday, the New York Stock Exchange ended down with the Dow Jones down 0.53% to 33,614.80 points, down from the high since it was created in 1896 of 36,799.65 points recorded on January 4.

The Nasdaq closed down 1.66% to 13,313.44 points, against the current high of 16,057.44 points, recorded on November 16.

On the foreign exchange front, the euro opened lower on the Frankfurt foreign exchange market, trading at $1.0876, a low since June 2020, against $1.0928 on Friday.

A barrel of Brent oil for May delivery opened sharply higher, up 8%, on London’s Intercontinental Exchange Futures (ICE), at $128.11, compared with $118.11 on Friday.