After the “Brexit,” the president of the Stock Exchange does not risk predictions of the PSI-20 – publico

 
         

                 

                         
                     

                         

                 

 
 

The fundamentals of companies listed on the Lisbon Stock Exchange were “solid” but the UK out of the European Union, dictated by the referendum on Thursday, he came to leave a blank about the future. The impact of the decision “is yet to be known in full” and on a day when the PSI-20 devalorizou nearly 7%, the chairman of the board of Euronext Lisbon, Maria João Carioca, do not risk making predictions about the evolution of the Portuguese market in the medium to long term.

“I can not have the audacity to make prospects much closed at this time,” said the manager, creasing be “too early” to know if the main index Portuguese yet may recover by the end of the year (since January has accumulated a depreciation of 18%). “I can not have a certainty to affirm you a projection”, reacts to the PUBLIC.

This was only the next day. Now that the decision “Brexit” is taken but the negotiation process for EU output is still unknown, Maria João Carioca admits that echoes the “ Leave ” will be felt in all business sectors present in the capital market. At first, falls, the pressure falls on the banking sector, but because the current degree of integration between the UK and the EU has a very broad impact on the economy, “all sectors will feel the echoes.” Carioca hopes that “uncertainty in the market can go slowing down,” so that investments and market players “can go converging for a normal situation.”

on the day that Europe woke up to the “ Brexit ” finished, negotiations were particularly negative in the European markets, with sharp declines and volatility in trading volumes. In Lisbon, the concern of fellow operator at first was “to ensure that the market had all the conditions for work within the expected reaction.” “There was no incident to report; He went into the possible normality. There was momentary suspensions in some titles internationally, but it was recovered in a short time. “

The London market eventually fell less in the session on Friday than other European markets. The main index of City , the FTSE 100 fell 3.15%, but in continental Europe the trading day ended in a much more pessimistic tone, with Paris to shrink 8%, Frankfurt to retreat almost 7 % and Madrid and Milan losing more than 12%.

for the management of the Portuguese market, the recovery that was felt in the City as they approached the markets closing time had to do in part with “what was already forming above expectations to the result” of the referendum. On the other hand, you know, the most significant declines in other markets are not disconnected from the fact that Europe attend the “output of a significant weight member in the Union.”

In progress is a major operation fusion between the management of the London and Frankfurt exchanges (London Stock Exchange and Deutsche Börse), the two companies have come to reaffirm on Friday, ensuring that the process remains standing. To Maria João Carioca, the marriage between the two groups, Euronext competitors, “is even more in need of a careful scrutiny.” The concentration of “about 40% of the trading volume of bonds in euros” in the City should be rethought, he says. With the UK within the EU but outside the euro, “the situation was welcome and had comfort,” but cease to form part of the EU, “ the weight of the City must be reviewed carefully. “