Euronext Lisbon: plunging in bear mode?

Since the last post, dated from the 7th of January, very little has changed. In fact things got a bit worse with last day's news on Citybank, US (pilling) stocks and Germany's 15 year low in confidence indicator on investment.
Euronext Lisbon is accumulating the biggest losses in currently live markets (-2,82% at 10:40 GMT). I think only Nikkei did worse. But let's wait for the end of the session.
The truth is that most probably the international investment funds are fleeing from Lisbon, not due to a particularly bad economy but due to it's peripheral and small weight. The harvest times are over for a while, but one thing is sure, some of the stocks in Euronext Lisbon are reaching appalling prices, quite under evaluated according to its economic performance.

Down, down, down, high society

Elis Regina a late Brazilian singer (between jazzy and bossa nova) immortalized a song with a refrain like to title of this post. And down, down, down is the word for the beginning of 2008 in the world of stock exchanges and, in particular, for some of Euronext Lisbon quotes. Beating historical minimums seams to be the most popular motto amongst the Portuguese Stock exchange. Examples? Sonae Industria, Impresa, Sonae.com, Martifer and Sonae SGPS. The last three for instance are falling at the moment more than 6% today!
Too much? Some say that this is usual in Lisbon due to a higher than average risk aversion of most of the investor playing in Euronext. It ought to be something like this because if you look to the intrinsic value of some of the down goers it does not make any sense. Maybe the time for cheap buys is coming here sooner than later. But beware, things are very, very rocky!