Between Powell and Lagarde exchanges advance. Corticeira Amorim shoots 5% in Lisbon – Markets
It is the “super Thursday” for central banks, with a series of meetings that will define the monetary policy in 2022. England and the European Central Bank (ECB). Navigating these meetings, investors in Europe entered the session on a high and Lisbon was no exception.
The PSI-20 index gains 1.2% to 5,496.72 points. Corticeira Amorim leads the way, with a gain of 4.65% to 11.26 euros. The energy sector also rose sharply, after confirmation of rising prices in the regulated electricity market in 2022. EDP Renováveis values 2.55% to 21.68 euros, while the parent company EDP rose 1.5 % to 4.82 euros.
Likewise, a Greenvolt adds 1.46% for 6.27 euros. In oil, Galp Energia appreciated 2.34% at 8.41 euros, following the recovery in raw material prices in the international oil markets.
BCP gains 1.63% at 0.14 euros, in a correction movement. Retail is also trading on the rise, with Sonae up 1% and Jerónimo Martins 0.3%. In the opposite direction, Nos is the share that fell the most, with a loss of 2.9% to 3.36 euros. Ibersol, Pharol and Novabase close the lot of just four listed in the red.
Across Europe, sentiment is positive, replicating the trend in the United States after US Federal Reserve Chairman Jerome Powell announced he would double the pace of stimulus withdrawal. In addition, Fed officials signaled the possibility of raising key interest rates three times next year, when economists only estimated twice.
In the euro zone, attention will be focused on the European Central Bank (ECB) as president Christine Lagarde is expected to present, as of 12:45 pm (Lisbon time), the plan for the period after the end of the pandemic debt purchase program (PEPP), which is scheduled for March.
(News updated at 8:30)