The European markets closed in negative territory, punished by the return of declines in crude oil prices, reflected in the stock market of Lisbon by lower securities Galp Energia, which led the PSI-20 benchmark index to devalue 1%. The price of Brent crude oil sinks 4% to $ 32.9 in London, and a barrel of WTI 4.39% to $ 29.44 in New York.
In addition to a technical correction, after strong gains this week with the agreement between Saudi Arabia and Russia to freeze production at January levels, operators pointing to new signs of oversupply in the oil market. Yesterday we learned that the US stocks rose 2.1 million barrels to 504.1 million last week, higher than expected.
The actions of the banking and automobile sector also pressured the squares European, especially the fall of 3.22% of Volkswagen, with news that the German company should not be able to close a deal with the US authorities about the scandal emissions before the end of March.
the FTSEEurofirst, index composed of the 300 largest listed companies in Europe, fell 0.89%, but posted the best weekly performance since October, with a shot of 4.09%, much to lift prices of crude oil and an increase in appetite investors for assets with higher risk.
In the PSI-20, Galp fell 1%, while EDP fell 0.42% and EDP Renováveis subsidiary depreciated 1.32%.
securities banking followed the pessimism of European peers. BPI fell 1.25% and the Millennium BCP fell 2.08%.
similar scenario in retail, with Jerónimo Martins losing 0.88% and Sonae to fall 2.9% to the price of 0.87 euros to the lowest since August 2013.
the rate of Portuguese government bonds to 10 years up 5 basis points to 3.37%, after the strong relief yesterday while the equivalent of Spain and Italy follow stable at 1.71% and 1.57%, respectively.