Why did Banco Comercial Português rise on 6 October?
Written after the close on
Banco Comercial Português +1.75%
BCP rose sharply in the last session, likely helped by its ongoing share buy-back programme. A buy-back is when a company purchases its own shares, which can support the price. Over the last five trading days, however, BCP fell clearly, moving against a market that rose clearly while its financial sector was roughly flat. The buy-back update is the only concrete company news in the period, so it likely explains the last session's gain but not the week's decline. Watch the interim report due in late October for a clearer picture.
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