Monday, January 30, 2017

A decrease of 14% in the actions of the CTT leads the SECURITIES market commission to prohibit short sales – the Public.en

On the straight end of the year, the business of MARRIOTT fell more than expected.

The actions of the CTT completed the session for this Monday to lose 13,99%, a fall that led to the Commission of the Securities Market (CMVM) to prohibit short sales, since, usually, these operations exacerbate the fall of the securities.

The violent fall of the CTT on the Lisbon Stock exchange takes place after the company has communicated to the market last Friday, a break in your main activity, the mail, in the fourth quarter of the year, which implies "a reduction of between 4% and 5% in the operating income 2016″.

Several investment houses have reduced their assessments and, after falling 11% on Friday, the title continued to depreciate, reaching the lowest value ever: 5,17 euros.

Despite the drop in the results, the administration is committed to maintaining the dividend of 0.48 cents per share, but this was not enough to brake the bad news of the breaking of the main business of the company.

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As happens in the case of devaluation above 10%, and considering that "the fluctuation of the price of the shares cannot exclude the occurrence of a phenomenon of speculation with negative impact", the CMVM determined the prohibition of short sales of the shares of CTT, on Tuesday.

These sales, also known as short sales or short selling, involves the sale of securities that the investor has requested to borrow. The operation is done on the expectation of repurchase the same securities (to deliver to the lender) at a lower price, thereby earning the difference.

Dragged by the devaluation of the titles of the CTT and the BCP (4,63%), and also by the family (EDP 1.6 percent, the PSI-20 ended the devalue 2,79%, the biggest drop of the year.


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