At around 09:30 in Lisbon, the PSI maintained its opening trend, declining by 0.29% to 7,705.15 points, with 12 stocks falling, one rising (EDP, +0.21% to 3.91 euros), and two remaining unchanged (Ibersol at 10 euros and REN at 3.08 euros).
CTT and Mota-Engil were followed by NOS, Jerónimo Martins, and Altri, which fell by 0.65% to 3.80 euros, 0.62% to 22.267 euros, and 0.51% to 4.91 euros, respectively.
More moderately, Corticeira Amorim, BCP, and Navigator’s stocks depreciated by 0.50% to 7.94 euros, 0.49% to 0.66 euros, and 0.42% to 3.28 euros, respectively.
EDP Renováveis, Galp, and Sonae also saw declines of 0.39% to 10.17 euros, 0.27% to 16.41 euros, and 0.16% to 1.26 euros, respectively.
Semapa’s shares fell by 0.12% to 17.28 euros.
Major European stock markets opened in decline following the announcement by European Commission President Ursula von der Leyen on Sunday that countermeasures to the tariffs on European steel and aluminum imports imposed by Trump would be postponed until August.
In a session lacking significant macroeconomic references in both the United States and Europe, markets are digesting U.S. President Donald Trump’s Saturday announcement of 30% tariffs on European Union and Mexican products.
European Commission President Ursula von der Leyen reacted by delaying until August the countermeasures to Trump’s tariffs.
Today, EU trade ministers are meeting in an extraordinary council to coordinate the response.
The expectation that negotiations might lead Trump to reduce the tariffs from the announced 30% to 10% for all products (except steel, aluminum, and automobiles, which would remain at 25%) could limit the declines, according to analysts at Renta, as cited by Efe.
The value of trade between China and the rest of the world, measured in yuan, increased by 5.2% in June on an annual basis, nearly double the rate of the previous month (2.7%), when it was affected by the impact of the trade war with the United States.
Wall Street futures fell by about 0.60% across the three indices.
Wall Street closed lower on Friday.
Meanwhile, Bitcoin reached a new all-time high this morning at 6:26 in Lisbon, valued at 123,000 dollars, during what is being called the cryptocurrency week, as U.S. House leaders are set to debate various cryptocurrency-related bills.
Brent crude, the benchmark oil in Europe, for September delivery, rose to 70.75 dollars, compared to 70.36 dollars on Friday.
Gold per troy ounce, a safe-haven asset, increased to 3,370.67 dollars, up from 3,354.54 dollars on Friday, with the current all-time high being 3,432.34 dollars on June 13.
Germany’s 10-year bond yields rose to 2.726%, from 2.723%.
The euro declined to 1.1676 dollars on the Frankfurt currency exchange, down from 1.1689 dollars on Friday, marking a new high since September 15, 2021, of 1.1789 dollars on July 2.
