Lusa - Business News - Portugal: Stock market trading higher, Jerónimo Martins up more than 7%

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Lusa - Business News - Portugal: Stock market trading higher, Jerónimo Martins up more than 7%

Lisbon, April 26,2024 (Lusa) - The Lisbon stock market was trading higher on Friday, with Jerónimo Martins shares leading the gains, rising 7.12% to €20.10, after the company presented its 1st quarter results.
At around 09:15 in Lisbon, the PSI was up 1.93% to 6,667.57 points, with 13 shares rising, one falling (CTT, -0.22% to €4.43) and two remaining unchanged (Greenvolt at €8.30 and Ibersol at €7.12). Jerónimo Martins announced today that sales grew by 18.6% in the first quarter of the year, surpassing €8.1 billion, in a statement sent to the Portuguese Securities Market Commission (CMVM).
According to the company, net profit totalled €97 million - incorporating an initial allocation of €40 million from the recently created Jerónimo Martins Foundation - a figure in line with the same period last year.
These results enabled the general meeting of shareholders to approve the proposal to distribute a dividend of €0.655 per share (gross), totalling €411.6 million, which will be paid on 15 May.
According to the information provided to the CMVM today, the performance of sales in the first quarter of the year led EBITDA (earnings before interest, taxes, depreciation and amortisation) to grow by 13.9% (+5.1%) to €508 million, with the respective margin standing at 6.3%.
On the stock exchange, Jerónimo Martins' shares were followed by those of Mota-Engil, EDP Renováveis and Galp, which rose 3.64% to €4.21, 2.93% to €12.99 and 2.02% to €20.66.
BCP, EDP and Nos shares advanced 1.75% to €0.33, 1.29% to €3.54 and 0.77% to €3.27.
Sonae, Corticeira Amorim and Semapa shares were also up, namely 0.64% to €0.94, 0.52% to €9.69 and 0.51% to €15.74.
The other three shares that rose were REN, Navigator and Altri, which advanced 0.45% to €2.23, 0.38% to €4.19 and 0.19% to €5.20.
The main European stock markets were trading higher on Friday, pending the US Personal Consumption Expenditure Index, which is the price variable most closely followed by the US Federal Reserve (Fed) when setting monetary policy.
Today, the Bank of Japan (BoJ) revised its inflation forecast for fiscal year 2024 upwards by four tenths of a percentage point to 2.8% and worsened its forecast for national gross domestic product (GDP) growth due to the weakness of consumption.
The stock market on Wall Street closed in the red on Thursday after disappointing first quarter growth figures were released in the US and fears spread that the interest rate cut would not materialise.
A barrel of Brent oil for June delivery opened higher today, at $89.66 on London's Intercontinental Exchange Futures (ICE), compared to $89.01 on Thursday.
On a currency level, the euro opened weaker on the Frankfurt exchange market, at $1.0730, compared to $1.0731 in the previous session.
MC/ADB // ADB.
Lusa

Agency : LUSA
Date : 2024-04-27 11:08:00

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