Mota Engil falls 10%, analyst points to portfolio adjustments

Mota-Engil, SGPS

05/12/2024 16:03

** Shares in Portuguese construction company Mota Engil
 MOTA.LS  slide over 10% on Thursday, marking a continuation of
a downward trend that has seen a devaluation of around 36% since
the beginning of 2024
    ** Henrique Tomé, an analyst from XTB, says this correction
may be related to a technical move to realise capital gains in
the absence of any fresh operational developments
    ** "Investors adjust their portfolios in preparation for
2025, evaluating more promising alternatives for next year," he
adds
    ** The current dip in share value follows a brief period of
growth in early December, prompted by a new contract with
Petrobras worth 200 million euros
    ** The stock hits the bottom of Portugal's blue-chip index
PSI20  .PSI20 
    ** Up to the previous session's close, shares were down
28.9%​ YTD

 (Reporting by Marta Serafinko in Gdansk)
 ((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))