The Lisbon stock market began trading in the negative territory for a week as the PSI index followed European declines, pushing the stock market into the red for the worse pandemic in China.
The PSI-20 will fall to 5,941.30 points as 14 shares fall and one (REN) remains unchanged. In the stock exchanges of the old continent, the decline is even more obvious, with losses of 2% on stock exchanges such as Paris and Amsterdam.
The pressure on the mood is the worsening of the pandemic in China, a situation that the country is still unable to control and which is perpetuating new fears of a global economic slowdown.
This is where Galp is the heaviest title. The price of the oil company has fallen by 3% to 10.99 euros, driven by the drop in oil on the international market. London-traded Brent has fallen nearly 4% to $ 102.63 a barrel.
The decline is also followed by BCP. The bank, led by Miguel Maya, will fall 1.63% to 0.1632 euros in the morning, bringing the European banking index down almost 2%.
Of the retailers, Jerónimo Martins fell 0.3 percent to € 20.14 and Sonae down 1.37 percent to € 1,007.
Despite the negative start, EDP Group’s shares reversed the opening trend and are now continuing to rise. EDP Renováveis rose 2.04% to EUR 23.03, while the electricity company added 0.32% to EUR 4.63.
(News updated at 8:17 a.m. with more information)