Dividend takes BCP to pre-war levels. Energy weighs in Lisbon – Markets

The Lisbon stock exchange closed higher, following the positive trend experienced by stock exchanges around the world thanks to the prospect of a retreat in Russian troops near Kiev. The national benchmark PSI index gained 0.29% for 5.921,84 points, with seven quoted in green, six in red and two unchanged.

Leading the gains was BCP, which, in addition to benefiting from the gains of European banking, also reacted strongly to the announcement of the return of dividends, after a two-year hiatus. The bank led by Miguel Maya will distribute a dividend of 0.09 cents per share to shareholders, totaling 13.6 million euros.

After the announcement, it increased by 5.5% to 0,1729 euros, the highest value since February 23, ie before the invasion. Alongside BCP, Corticeira Amorim (1.51%), Sonae (1.1%) and Jerónimo Martins (1.47%) retailers or Semapa (0.67%) and Navigator (0.53%) %) closed higher. CTT gained 0.66% to 4.58 euros after the postal operator announced that it would resume the tradition of showing investors the company’s plans for the coming years. In an event scheduled for the 22nd and 23rd of June, the company led by João Bento will take stock of its transformation process and set out the strategic goals for the next three years.

In the opposite direction, energy held back greater gains. Galp Energia fell 2.08% to 11.06 euros per share, reflecting the negative performance of oil. EDP ​​Renováveis ​​fell 1.5%, EDP 0.64%, REN 0.36% and Greenvolt 0.57%.

It was, in fact, the exposure to energy that led Lisbon to have the weakest performance in Europe. Stock exchanges are reacting strongly to progress in negotiations between the Kremlin and Kiev, after the Ukrainian diplomatic team announced that the ground was already created for Vladimir Putin and Volodymyr Zelensky to meet to discuss a ceasefire.

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Markets were still filled with hope after the Kremlin revealed it would reduce military activity near Ukraine’s capital Kiev and also in Chernihiv, committed to de-escalating the conflict.