Sunday, 26 August 2007

BCP: What’s next for the biggest Portuguese private bank?

Last Friday ended in a “good mood” in the United States Stock Markets with gains above 1%. PSI 20 index that closed some hours before didn’t performed so well.

The final figure was a gain of 0,26%. For this result Portugal Telecom (+1,72%), Galp Energia (+1,09%) and also Cofina (with a lower weight in the index and about the leave it but with an higher variation: +1,75% ) were the main contributors. In the lows the highlight goes to Banco Comercial Português (-1,10%) and to PT Multimédia (-1,06%).

Remember that for tomorrow is scheduled the (second) all decisive (eventually!) General Assembly of BCP Stock holders. An administration war is on the way for several months with the former CEO Jardim Gonçalves leading one of the parties and with present CEO, Teixeira Pinto, leading the other. The Bank is all over the news, the stocks have experienced huge volatility and the last financial results seem to bare the weight of the enduring conflict.

What’s next for the biggest Portuguese private bank?

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