At 09:35 in Lisbon, the PSI index dropped 0.86% to 7,462.32 points, with CTT shares losing 2.56% to 7.24 euros.
Also declining by more than 1% were shares of EDP Renováveis, Sonae, Ibersol, Corticeira Amorim, and Mota-Engil, which fell by 1.34%, 1.33%, 1.29%, 1.27%, and 1.15%, respectively, to 9.60 euros, 1.19 euros, 9.92 euros, 7.80 euros, and 4.13 euros.
Jerónimo Martins (-0.93% to 21.38 euros), REN (-0.66% to 3.01 euros), NOS (-0.65% to 3.85 euros), BCP (-0.63% to 0.67 euros), Navigator (-0.60% to 3.31 euros), Altri (-0.58% to 5.16 euros), EDP (-0.47% to 3.61 euros), and Semapa (-0.37% to 16.12 euros) were also declining.
The only stock in green was Galp Energia, which gained 0.67% to 15.80 euros.
Major European stock markets started the session with declines exceeding 1% following Israel’s attack on Iran’s nuclear facilities, which promises retaliation, causing significant oil price increases.
At around 09:00 in Lisbon, the EuroStoxx 600 was down 0.73% to 545.83 points.
London, Paris, and Frankfurt markets fell by 0.55%, 0.70%, and 1.05%, respectively, while Madrid and Milan saw declines of 1.39% and 1.36%.
The euro, after being traded above 1.16 dollars on Thursday, depreciated by 0.40% to 1.154 dollars.
Investors are closely following to see if, after Israel’s attack on Iran’s nuclear and ballistic facilities, the meeting scheduled for Sunday between the US and Iran regarding the Iranian nuclear program will still take place.
The intense geopolitical tension led oil prices to rise by more than 5%.
Brent crude, a European benchmark, rose 5.09%, pricing at 72.89 dollars per barrel, while West Texas Intermediate, a US benchmark, increased by 5.22% to 71.59 dollars.
Gold, a safe haven asset in uncertain times, rose by 0.97%, with the ounce priced at 3,418.1 dollars.
In Asia, Tokyo’s main stock index, the Nikkei, fell by 0.89% in response to the military escalation between Israel and Iran, while Shanghai’s main index dropped by 0.75%, and Shenzhen fell by 1.1%. The Hang Seng was down by 0.81% just minutes before closing.
Wall Street closed on Thursday with gains driven by better-than-expected inflation data and technology company Oracle’s quarterly results, which surged by 13%.
The Dow Jones Industrials rose 0.24%, the S&P 500 increased by 0.38%, and the tech-heavy Nasdaq gained 0.24%.
In the debt market, the 10-year German bond yield fell to 2.468%.
Bitcoin, the most well-known and widely used cryptocurrency, fell by 1.13% to 104,816 dollars.
On the macro level, today’s focus will be on the preliminary consumer confidence survey by the University of Michigan in the US, which may improve due to recent advances in trade negotiations with China.
In Europe, Spain’s May inflation data were revised up to 2%, one-tenth higher than reported two weeks ago and two-tenths below April’s value, while food inflation rose by five-tenths to 2.5%. In France, the annual CPI fell by one-tenth in May to 0.7%.
