At 09:20 in Lisbon, the PSI continued its opening trend, declining by 1% to 7,661.06 points, with 12 stocks down, one up (EDP Renováveis, +0.78% to 10.30 euros), and two remaining steady (Ibersol at 9.60 euros and NOS at 3.60 euros).
On Thursday, Navigator announced a net profit of 85 million euros for the first half of 2025, marking a 46% decrease from the same period last year.
The company’s results were impacted by a drop in pulp and paper market prices as well as increased costs for energy, chemicals, and logistics, according to The Navigator Company in a statement to the Securities Market Commission (CMVM) on Thursday.
Navigator shares were followed by REN, Altri, and Semapa, which recorded losses of 3.12% to 3.10 euros, 2.54% to 4.80 euros, and 2.16% to 17.24 euros, respectively.
Also on Thursday, REN — Redes Energéticas Nacionais reported a net profit of 65.7 million euros for the first half of 2025, representing a 35.2% increase compared to the same period last year.
This improvement was mainly due to a reduction in net debt, boosting financial results by 5.2 million euros, and positive tax effects, with taxes falling by 19 million euros, explained the company in a statement.
The Altri Group also informed the market of a net profit of 14 million euros for the first half, down 77.3% from the 62 million euros achieved in the same period last year.
The decline in results was due to “lower average prices of pulp and sales volumes, resulting from less favorable global market conditions during this period,” explained the company.
More moderately, shares of Mota-Engil, BCP, and Sonae decreased by 1.67% to 4.13 euros, 1.12% to 0.69 euros, and 0.80% to 1.24 euros, respectively.
Similarly, shares of CTT, Corticeira Amorim, and Galp fell by 0.53% to 7.53 euros, 0.52% to 7.64 euros, and 0.51% to 16.70 euros, respectively.
Jerónimo Martins shares also slightly declined by 0.03% to 3.77 euros.
Major European stock exchanges opened in the red today after the ECB kept its key rates unchanged on Thursday.
As anticipated by the markets, the ECB maintained its rates on Thursday after successfully keeping eurozone inflation at the target of 2%.
Wall Street futures present slight gains after Wall Street ended mixed on Thursday, with the Dow Jones Industrial down 0.7% while the S&P 500 and Nasdaq reached highs, driven by strong results from Alphabet, Google’s parent company.
Today, market attention will focus on the publication of the Ifo index in Germany, which may continue to improve due to the announced fiscal stimulus (defense, infrastructure) and the expectation of a trade agreement between the European Union and the United States, where preliminary June data on durable goods orders will be released.
Brent crude, Europe’s benchmark, for September delivery, is advancing to 69.72 dollars, compared to 69.18 dollars on Thursday.
Gold per troy ounce, a safe-haven asset, was depreciating to 3,357.92 dollars, down from 3,367.00 dollars on Thursday, from the current all-time high of 3,432.34 dollars on June 13.
The euro declined to 1.1757 dollars in the Frankfurt foreign exchange market, from 1.1763 dollars on Thursday, and a new high since September 15, 2021, of 1.1789 dollars on July 2.
