Altri tumbles as U.S.-China trade war hits paper sector

Altri, SGPS

29/05/2019 12:00

LISBON, May 29 (Reuters) -    ** Shares in Portuguese pulp
producer Altri  ALSS.LS  slump 5.3% to 5.855 euros, as ongoing
trade tensions between Washington and Beijing are hurting paper
sector.
    ** Altri leads decliners on Lisbon's PSI20  .PSI20  index,
down 1.25%.
    ** "The pulp sector has been under strong pressure, with the
trade war decreasing investor demand," says Carla Maia, a trader
at XTB brokerage in Lisbon.
    ** After rising nearly 24% in the first three months of the
year, Altri shares have changed course, shedding more than 15%
of their value since the beginning of April.
    

 (By Goncalo Almeida, editing by Andrei Khalip)
 ((Goncalo.Almeida@thomsonreuters.com;))