EDP Renewables shares drop 4%

Portugal energy giant EDP’s renewables subsidiary saw shares plummet 4% on Monday as shares fell 0.2% on the Lisbon Stock Market. The market was down over losses from EDP Renováveis trading without dividends.

 

The PSI-20 opened 0.23% down to 5.514 points following an overall European trend with Stoxx 600 falling 0.2% to 383,87 due to a lack of important news on results or mergers. EDP Renewables traded for the first time on Monday without dividend rights of six cents per share.

The EDP subsidiary’s share price fell 3.69% to €7.7050 with a knock-on effect from no dividends of a 5.15% fall on Friday’s results when shares were worth €8.0600.

Also down was Galp Energia with shares falling back 0.25% to €15.9550 as oil prices fell on the international markets. 

Gains were seen by bank BCP +0.35% to 28.28 cents, EDP +0.2% to €3.0740 and Jerónimo Martins +€1.02% to €14.80.