The Lisbon Stock Exchange traded at a sharp mid-session low this Friday, with 14 PSI items falling, led by Sonae, which fell 7.09% to 0.97 euros.
Around 13:30 in Lisbon, PSI retreated 2.02% to 5747.68 points, while the price of 14 securities fell and one rose (Galp, +1.18% to 9.94 euros).
Sonae announced on Thursday that it recorded a profit of 179 million euros in 2022, down 17% from the previous year.
Sonae was followed by Greenvolt, CTT and EDP Renováveis, which fell 4.62% to €6.82, 4.58% to €3.43 and 3.74% to €19.82.
Shares of BCP, Navigator and EDP fell the most, down 2.75% to €0.19, 1.78% to €3.21 and 1.66% to €4.74.
In a similar vein, shares of Corticeira Amorim and Altri fell 1.54% to €9.61 and 1.48% to €4.62.
Shares of Mota-Engil fell 1.32% to 1.47 euros.
The remaining three shares, which devalued their registered price, were down 0.39% and 1.18%.
This Friday, the major European stock exchanges reversed the trend imposed by the banks after the announcement of an emergency meeting called by the European Central Bank (ECB) and again collapsed on the Zurich Credit Suisse exchange.
Shares of Credit Suisse, which are currently down 0.23%, have lost more than 6% of their value since they began trading on Friday on the Zurich Stock Exchange, prompting a return of doubts about the bank’s stability after the big ups and downs of the previous two trading days.
Meanwhile, Wall Street futures are down 0.47% for the Dow Jones and 0.29% for the S&P 500, but up 0.09% for the Nasdaq.
The European Central Bank (ECB) called an extraordinary meeting of its supervisory board this Friday to discuss the turmoil in the US banking sector.
Now in the US, First Republic Bank is in trouble as its clients have withdrawn most of their deposits, raising concerns following the collapse of Silicon Valley Bank and Signature Bank.
There are fears of contagion and a crisis of confidence that could lead to a run on deposits that could bring down other banks.
European banks record different trends.
Author: Portuguese
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.