PSI-20 suffers biggest drop in four months with all listed in red and BCP in historic low – Bolsa

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The PSI-20 closed down 2.45% to 4,194.82 points, in a session in which all shares of the Portuguese index closed on negative ground.

The Portuguese stock exchange suffered the sharpest drop since June 11, following the red loaded session that registered in Europe, with the indices marking losses around 2%. Investor sentiment was strongly shaken by the worsening pandemic in Europe, which has led several countries and cities to impose more restrictive measures.

The fall in markets reflects uncertainty over the course of the pandemic and fears that the new wave of infections and restrictions will further delay the recovery of the economy.

In France, a state of emergency and mandatory confinement during the night have been decreed in several cities, while in London new measures will come into effect from Saturday, such as the ban on socialization between different families indoors.

These new limitations are imposed at a time when many countries record records in the number of new daily cases, as is the case of the largest economy in the region, Germany, which yesterday exceeded 7 thousand new infections, a new maximum.

With all listed on negative ground, EDP suffered the most accentuated loss in the PSI-20, correcting part of the progress achieved in the last sessions. Electricity depreciated 4.89% to 4,478 euros and EDP Renováveis ​​ceded 2.77% to 16.82 euros.

Still in energy, Galp Energia fell 2.96% to 8.072 euros in a session in which oil prices yield more than 2%. REN decreased 1.64% to 2.405 euros.

The remaining heavyweights also put pressure on the PSI-20, with Banco Comercial Português devaluating 2.79% to 7.66 cents. Jerónimo Martins fell 1.83% to 14.47 euros and Sonae ceded 2.5%.

BCP has reached a new historic low and has already accumulated a drop of over 60% since the beginning of the year, in line with the performance of the financial sector, which is being hit hardest by the pandemic.



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