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Lusa - Business News - Portugal: Stock market soft with Altri down 3.56%![]()
Lisbon,May.26,2023(Lusa)-The Lisbon stock market was down on Friday, maintaining the opening trend, with Atri shares down 3.56% to €4.12 and Corticeira Amorim shares up 2.20% to €10.22. Around 09:15 in Lisbon, after having opened in a downward trend, the PSI retreated 0.31% to 5,890.41 points, with the share price of 10 shares falling, four rising and two remaining unchanged (REN at €2.47 and Semapa at €14.02). Altri's net profit from continuing operations reached €19.6 million in the first quarter of this year, a 34.3% year-on-year reduction, the group said in a statement on Thursday. "The financial performance of the Altri group was influenced by sales volume. Total revenues reached €224.7 million, a decrease of 9.9% compared to the first three months of 2022, influenced by both destocking and the lower contribution of energy sales," the company indicated in the same statement. Altri's shares were followed by those of Greenvolt, EDP and BCP, which fell 1.56% to €6.39, 1.49% to €4.51 and 1.13% to €0.21. Other shares that depreciated were those of NOS, CTT and EDP Renováveis, which fell 0.94% to €3.57, 0.89% to €3.34 and also 0.89% to €18.94. The other three shares (Jerónimo Martins, Navigator and Sonae) were down between 0.36% and 0.58%. In the opposite direction, Corticeira Amorim's shares were followed by those of Mota-Engil, Ibersol and Galp, which were up 1.05% to €1.92, 0.29% to €6.94 and 0.05% to €10.37. The main European stock markets were trading mixed today, pending the agreement on the US debt ceiling, where the personal consumption price index, an important benchmark for the US Federal Reserve (Fed), will be released today. The week in the markets ends with the same focus with which it began: the negotiations on the US debt ceiling. Sources linked to the negotiations explained on Thursday night that US Congress Democrats and Republicans are "close" to reaching an agreement, which would avoid a suspension of payments, and that they could announce the deal as early as today, according to several US media outlets. The possible deal would raise the debt ceiling for two years and impose limits on discretionary public spending, except for military or veterans affairs. Pending such developments, futures of the main Wall Street indicators are flat today after the US market closed mixed on Thursday. Investors will closely follow the unfolding of US trading in a session in which the macroeconomic agenda brings some relevant commitments, especially in the US, where personal income and spending data for April will be published, variables that are always accompanied by readings of the personal consumption price index, PCE, which is the price variable most followed by the Fed, Link Securities analysts, cited by Efe, recall. On Thursday, before the markets opened in Europe, it was learned that the German economy contracted by 0.3% in the first quarter of the year, i.e. it entered a technical recession after two consecutive quarters in negative territory. On the foreign exchange front, the euro opened higher on the Frankfurt exchange market, but at $1.0743, down from $1.0713 on Thursday. A barrel of Brent crude for July delivery also opened higher on London's Intercontinental Exchange Futures (ICE), quoting at $76.48, up from $76.26 on Thursday and $72.33 on 3 May, a low since January 2022. MC/ADB // ADB. Lusa Agency : LUSA Date : 2023-05-27 03:14:00
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