Tuesday, 11 September 2007

PSI 20 index: one of the smallest recoveries in Europe

PSI 20 Index recovered 0,9% of it value with 13 companies in the green. Some of the biggest fall of yesterday are also among the biggest recoveries of today, like Mota-Engil (+4,12%), Altri (+3,97%) and Soares da Costa (3,91%). It was a good day for construction companies. But the star of the day was GALP (Petroleum / Energy) that climbed 5,58% in one single session. The oil prices in the international market played a big role in this valorisation. Cimpor (-0,79%) and Brisa (-0,32%) leaded the falls accumulating losses in the last few days.
Yesterday, in a negative day all over the world, Euronext’s PSI 20 was the worst performing European stock index, today in the middle of a recovery, PSI 20 is again one of the worst performing European indexes. As I’ve said before, the aphorism “One step forward, two step backwards” is becoming the motto for the Portuguese stock exchange in the last weeks. Is there something fermenting in the horizon? In a small stock exchange strange things happen often. Beware!

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