At approximately 09:55 in Lisbon, the PSI reversed its opening trend and declined by 0.15% to 7,734.64 points, with 10 stocks rising and five falling.
The shares following the two EDP entities were REN, CTT, and Ibersol, which fell by 1.54% to 3.20 euros, 0.93% to 7.47 euros, and 0.62% to 9.66 euros, respectively.
Conversely, shares of Galp, NOS, and Navigator appreciated by 1.43% to 16.62 euros, 1.28% to 3.57 euros, and 0.87% to 3.23 euros, respectively.
The shares of Corticeira Amorim, Altri, and Semapa also rose, specifically by 0.66% to 7.64 euros, 0.63% to 4.81 euros, and 0.58% to 17.24 euros, respectively.
More moderately, shares of BCP, Sonae, and Jerónimo Martins rose by 0.57% to 0.67 euros, 0.48% to 1.27 euros, and 0.46% to 21.94 euros, respectively.
Shares of Mota-Engil advanced by 0.29% to 4.20 euros.
Major European stock exchanges opened in the green today, optimistic about the new tariff agreement signed by U.S. President Donald Trump with Japan, featuring “reciprocal” tariffs of 15%, paving the way for advancements in other negotiations.
The President of the European Commission, Ursula von der Leyen, and the President of the European Council, António Costa, are meeting today in Tokyo with Japan’s Prime Minister Shigeru Ishiba, aiming to sign a “competitiveness alliance” to enhance cooperation between the European Union (EU) and Japan.
Meanwhile, markets continue to await the presentation of corporate results. The Italian bank UniCredit announced profits of 6.1 billion euros in the first six months, an increase of 17.3% compared to the same period in 2024.
Investors are keenly anticipating this week’s ECB monetary policy meeting, expected to maintain rates, with focus on any hints from the entity’s President Christine Lagarde regarding future moves.
Markets will also pay attention to the preliminary PMI estimates, providing an overview of activity in the manufacturing and services sectors, which may be impacted by U.S. President Donald Trump’s announcement of a 30% tariff on eurozone imports to the U.S., though the effect is expected to be limited.
Wall Street closed mixed on Tuesday.
Brent crude, the European benchmark for oil, for September delivery, is advancing to 68.81 dollars, up from 68.59 dollars on Tuesday.
The ‘troy’ ounce of gold, a safe-haven asset, depreciated to 3,425.85 dollars, down from 3,432.31 dollars on Tuesday, approaching the current all-time high of 3,432.34 dollars on June 13.
The euro fell to 1.1743 dollars in the Frankfurt currency market, down from 1.1755 dollars on Tuesday, nearing a new high since September 15, 2021, of 1.1789 dollars on July 2.
