Lisbon Stock Exchange Falls, BCP Falls Nearly 4%

The Lisbon Stock Exchange traded lower this Monday, with 14 of 16 PSI bonds falling, led by BCP, the only bank in the index, which fell 3.92% to 0.18 euros.

At around 9:05 am in Lisbon, the PSI index, which as of this Monday also includes Ibersol, fell by 1.13% to 5,659.67 points, with the price of 14 “securities” down, one up (EDP Renováveis , +0.05% to 19.95 euros) and one remained (REN at 2.25 euros).

BCP was followed by Sonae, Altri and Galp, which fell 3.48% to €0.93, 2.61% to €4.47 and 2.39% to €9.65.

Shares of Mota-Engil, Greenvolt and Ibersol fell the most, down 2.03% to €1.45, 1.94% to €6.57 and 1.79% to €6.58.

Shares of Sempa, NOS, CTT, Corticeira Amorim, Navigator also fell more than 1%.

Two other shares that were depreciating recorded a price decrease of 0.06-0.98%.

Major European bourses opened lower this Monday, skeptical about the fallout from a hasty closure of Credit Suisse’s UBS acquisition, which has not alleviated concerns about the banking sector.

Shares of UBS fell 8.77% at the opening of the Zurich stock exchange after a deal to buy Credit Suisse, its traditional competitor, which was facing bankruptcy due to an irreparable crisis of confidence.

The Swiss government has provided substantial guarantees to keep the business going, using certain emergency instruments, on the grounds that the collapse of Credit Suisse could lead to a financial crisis not only domestically but also globally.

However, this morning investors appear unhappy with the deal, in which UBS has agreed to buy Credit Suisse for €3,000 million, a price it will pay in shares only and which values ​​the acquired company’s shares at 40% of their closing value. last trading day.

Today, on a day of widespread decline in Europe, the market will analyze the purchase of Credit Suisse UBS and the coordinated actions of major central banks to provide liquidity to the system.

In addition, the day started with benchmark European Brent oil plummeting 2.69% to $71.06, while futures on Wall Street’s major indicators are now expecting losses of more than 1%, while the Federal The Reserve System (Fed) is holding a meeting. expected next Wednesday.

On Friday, the New York Stock Exchange closed at a low, with the Dow Jones Industrial Average falling 1.19% to 31,861.98 from its 1896 high of 36,799.65 on January 4, 2022.

The Nasdaq closed down 0.74% to 11,630.51 from the current high of 16,057.44, confirmed on November 16, 2021.

On an exchange level, the euro opened lower on the Frankfurt stock market, trading at $1.0638 against $1.0670 on Friday and $1.0909 on February 2, the highest level since April 2022.

The euro has been quoted above parity against the dollar since Nov. 7, after being below parity since Sept. 20 except on Oct. 26 ($1.0076).

A barrel of Brent oil for May delivery opened lower on the Intercontinental Futures Exchange (ICE) in London, trading at $71.06, the lowest since January 2022, from $72.97 on Friday.