PSI began trading across the waterline this Tuesday. After opening up 0.02%, the index turned negative in the first few minutes and fell 0.07% to 5,936.15, despite the fact that only three listed companies – all in the energy sector – were negative.
The index is pressured by EDP Group’s shares, whose EDP fell 4.55% to EUR 4,471 as a result of dividend income, discounting this factor reduces the share price by 0.49%. EDP Renováveis, for its part, fell 0.87% to € 22.80 after Société Générale revised the recommendation downwards – “hold” – “sell” – even though the target price rose from € 18.5 to € 21. Still, the “target” gives the quoted a devaluation potential of 8.7% compared to the previous day’s closing.
In the end, Greenvolt will fall 0.43%, quoting 6.95 euros.
Even higher losses in the index are being blocked by Semapa, which rose 2.15%, and Galp, which experienced a sharp drop yesterday, rose 1.88% to 10.85 euros. BCP, which had fallen more than 3% the previous day, rose 1.31% to € 0.1619 on the day Bank Millennium, controlled by Miguel Maya, reported losses of € 26.4 million in the first quarter.
Navigator, Mota-Engil and Sonae rose more than 1%, while Jerónimo Martins rose 0.2% to € 20.34.
(News updated with reference to EDP’s former dividend)