At approximately 10:15 AM Lisbon time, the PSI rose 0.11% to 7,369.76 points, with five stocks rising, two unchanged (NOS at 3.78 euros and Sonae at 1.16 euros), and eight declining.
Energy and banking stocks were driving the main Portuguese stock index upward.
Oil company Galp led the gains, rising 0.92% to 15.87 euros. The heavyweights EDP and BCP also showed upward trends, with EDP advancing 0.33% to 3.62 euros and BCP increasing 0.31% to 0.65 euros.
Altri and Navigator shares were also in the green, with Altri up 0.52% to 4.88 euros and Navigator up 0.43% to 3.30 euros.
Conversely, the biggest losses were observed in Mota-Engil, down 1.11% to 3.75 euros, and CTT, down 0.69% to 7.16 euros. EDP Renováveis was also declining, down 0.42% to 9.52 euros.
As Lisbon reversed its negative opening trend, major European markets continued to trade in negative territory, with market focus lingering on the conflict between Israel and Iran and potential U.S. involvement.
On Wednesday, the Federal Reserve decided to maintain the interest rate between 4.25% and 4.50%, despite Donald Trump’s opposition, who once again insulted the central bank’s chairman, Jerome Powell, as it waits for more information on the effects of tariff increases imposed by the White House.
The Fed also revised its growth forecasts downward, now expecting U.S. economic growth of 1.4% in 2025 and anticipating higher inflation this year, at 3% (up from the previous forecast of 2.7%).
On Wall Street, the stock market closed mixed on Wednesday. The Dow Jones fell 0.10% and the Nasdaq lost 0.03%, while the S&P 500 gained 0.13%.
In Asia, major indices registered losses overnight. The Hang Seng (Hong Kong) fell by more than 2% and the Nikkei (Tokyo) by more than 1%.
In commodities, the price of oil is rising today, while gold is decreasing.
Brent crude oil, a benchmark in Europe, rises to 77.41 dollars.
Gold per troy ounce, a safe haven asset, was down slightly to 3,355.6 dollars.
U.S. financial markets are closed today due to the Juneteenth holiday, which celebrates the emancipation of enslaved African Americans.
