EDP leads gains on Lisbon stock market

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Lisbon stock market was bullish on Wednesday largely thanks to EDP share gains up 0.9%

The PSI-20 was largely following European stock markets after a slight fall registered in the previous day’s trading.

However, Portugal’s banking sector put the brakes on significant gains with the PSI-20 gaining 0.16% overall.

EDP – the national electrical energy provider — recovered losses on Tuesday and gained 0.89% bringing shares up to €3.39 each.

The partly state-owned postal company CTT also contributed towards gains by increasing 0.42% with shares at €3.35 giving a boost to the company led by Francisco de Lacerda whose shares have lost 4.4% of their value since the start of the year.

Shares of Portuguese bank BCP however fell 0.55% to €0.25,42 on the same day the bank has announced that it has a strategic plan to 2021 which includes a consumer credit concession drive.

The idea of the credit campaign “Mobilizar” (Mobilise) is to generate more revenues from loan interest by increasing credit concession in business credit, consumer credit in Portugal and within its international operations in Poland and even at BCP’s no-frills ActivoBank.