The PSI closed on Friday, the holiday of June 10, down 3.39%, at 6,087.96 points. This is the biggest drop in the Portuguese stock market benchmark since March 18, 2020, when we were at the start of the covid-19 pandemic.
The Portuguese market followed the “red tide” experienced in Europe (and on Wall Street), as investors were surprised by the unexpected rise in inflation in the United States to four-decade highs, at a time when in Europe the announcements from the day before were still being digested by the ECB that the purchase of net debt will end on July 1 and indicating hikes in key rates of 25 basis points in July and of a magnitude yet to be defined in September.
Here, the 15 listed companies of the PSI ended the session in the “red”, but the highlight goes to BCP, which plunged 11.33%, to 0.173 euro, a day when Tigon pointed out the vulnerability of the bank of BCP, the Millennium Bank, to the moratoriums approved by the Polish parliament.
Greenvolt (-6.67%, to 7 euros) also closed on significant declines, which yesterday announced a capital increase of 100 million euros, and CTT, which lost 6.5%, to 3.45 euros.
Paper mills Altri, which fell 4.18%, and Navigator, which fell 3.3%, were also weighed against the index’s performance, while Semapa lost 3.62%.
In energy, Galp fell 3.31% to 12,405 euros on a day when oil prices fell from recent gains. The listed companies of the EDP group were even the least penalized, but still with falls of more than 1%. EDPR fell 1.2% and parent company 1.17%.
Jerónimo Martins, listed with the highest weight in the index, was the only one to lose less than 1%. The owner of Pingo Doce closed 0.65% at 18.42 euros.