LISBON (Thomson Financial) - Market data at 9:35 a.m.:
PSI-20 index: down 25.12 points at 11,222.26.
Outperformers:
-Blue chip EDP, up 0.005 at 4.155, after first-quarter results late Thursday
were ahead of estimates. EDP said net profit rose to 263.3 million euros from
241.4 million, beating estimates for 174 million euros to 255 million euros.
-Portucel, up 0.02 at 2.40 after daily Diario Economico reported that
Angolan state-owned oil company Sonangol is mulling acquiring a stake in the
paper and pulp maker.
-Builder Soares da Costa, up 0.03 at 1.87, adding to sharp gains yesterday,
with traders citing talk that domestic funds getting into the small cap's share
capital.
-Cement maker Cimpor, up 0.02 at 6.09, on the day of its AGM.
Underperformers:
-Heavyweight BCP, down 0.015 at 1.825. BBVA has downgraded BCP to 'sell'
from 'underperform', cutting the bank's price target to 1.5 euros per share from
3.1 euros per share previously.
-Other banks, with Banco BPI down 0.025 at 3.685 and BES shedding 0.065 to
12.26.
-Sonaecom, down 0.005 at 2.32. EDP's CEO Antonio Mexia said yesterday that
the group plans to sell the 8 percent stake it holds in Sonaecom as part of the
group's policy of divesting non-core assets.
-Sonae Industria, down 0.02 at 4.62.
luis.morais@thomsonreuters.com
lm/scl/lm/lm/slm
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