Debt issuance and 4 other things you need to know to start your day
Portugal goes to the market to issue short-term debt. On the national stock exchange, investors will be reacting to CTT’s 2023 results, as well as following developments around Fosun’s participation in BCP.
| Portugal issues long-term debt |
| The Treasury and Public Debt Management Agency – IGCP issues Treasury bills (BT) for six and 12 months, with an overall indicative amount between 1,250 million and 1,500 million euros, after having issued the first long-term debt of the year through a syndicated sale. In February, the IGCP held a similar auction in which it placed 788 million euros in six-month BT, with an interest of 3.646%, and 500 million euros in 11-month BT, with an interest of 3.436%. |
| Reaction to CTT results |
| CTT presented this Tuesday, after the close of the stock exchange, its results for 2023, having reported profits of 60.5 million euros, 66.2% (24.1 million) more than in the previous year. The dividend that will be proposed by the company’s management at the general meeting on April 19th will be 17 cents per share. Today investors will be reacting to these numbers. |
| Fed decision on the radar |
| This Wednesday ends the two-day meeting of the North American Federal Reserve (Fed). The market does not foresee any change in interest rates, expecting them to remain in a range between 5.25% and 5.5%. The attention will be on the words of Jerome Powell, president of the Fed, and on the “dot plot” (map that shows how each central bank representative estimates changes in policy interest rates) – which should give clues about the evolution of monetary policy over the course of the year. year. |
| BCP continues to focus attention |
| With the high uncertainty surrounding the future of BCP shareholders, in particular Fosun, investors will be alert to potential developments. Negócios reports that the Chinese conglomerate met with political decision-makers and national supervisors. Market sources describe it as a “charm operation” to reassure supervisors, politicians and investors. |
