At approximately 09:25 in Lisbon, the PSI reversed its opening trend, declining 0.21% to 7,443.41 points, with seven stocks falling, seven rising, and one maintaining its value (Altri at 5.25 euros).
On Tuesday, the PSI closed the session at 7,456.30 points, marking a new high since June 2014.
Following Jerónimo Martins, the shares of BCP, Mota-Engil, and Galp decreased by 0.74% to 0.67 euros, 0.66% to 4.50 euros, and 0.44% to 14.62 euros, respectively.
More moderately, shares of CTT, REN, and Sonae depreciated by 0.40% to 7.49 euros, 0.34% to 2.95 euros, and 0.16% to 1.25 euros.
Conversely, shares of NOS and EDP Renováveis advanced by 0.52% to 3.88 euros and 0.50% to 9.13 euros, while Navigator and Semapa both increased by 0.23% to 3.44 euros and 17.36 euros.
Similarly, shares of Ibersol, Corticeira Amorim, and EDP rose by 0.20% to 9.94 euros, 0.13% to 7.70 euros, and 0.11% to 3.56 euros, respectively.
Major European stock markets opened higher today, despite the U.S. implementing a new global increase in tariffs on steel and aluminum, which are doubling to 50%, with the exception of the United Kingdom.
Today, the United States increased tariffs on steel and aluminum from 25% to 50%, amid uncertainty surrounding Washington’s negotiations with China or the European Union to reach agreements that might end the trade war.
On Tuesday, U.S. President Donald Trump exempted the United Kingdom from the global tariff increase.
The executive order, which adjusts the rates on both metals, deemed it necessary to enable the implementation of the bilateral agreement signed with London on May 8, thereby treating the country differently.
Today’s agenda includes the European Semester spring package presented by the European Commission, analyzing the compliance of the fiscal plans of member states, issuing economic recommendations for all countries, and assessing the implementation of their national recovery plans.
Markets are still awaiting Thursday’s decision from the European Central Bank on interest rates, which are expected to decrease by a quarter-point.
Futures in the Wall Street market are stable, with a rise of 0.04% and 0.05% for the Dow Jones Industrials and S&P 500, and a decline of 0.01% for the Nasdaq, after all three indices closed Tuesday in positive territory, with an increase of less than 1%.
Gold per troy ounce, a safe-haven asset, was rising to 3,363.21 dollars, from 3,348.53 dollars on Tuesday and the current all-time high of 3,414.65 dollars recorded on April 21.
The price of Brent crude oil for delivery in August, the European reference, fell 0.27% to 65.57 dollars per barrel, from 65.63 dollars on Tuesday, due to the OPEC+ decision to increase production in July, as well as rising tensions in the Russia-Ukraine war and Iran-U.S. nuclear negotiations.
The euro was advancing to 1.1394 dollars in the Frankfurt currency market, from 1.1373 dollars on Tuesday and 1.1509 dollars on April 21, marking a new high since November 12, 2021.
