The shares of the oil company rose by 3.17% to 15.13 euros, and those of EDP Renováveis gained 2.89% to 9.26 euros.
Around 09:25 in Lisbon, the PSI maintained its opening trend, rising by 0.72% to 7,476.42 points, with seven stocks increasing, three declining, and five remaining stable.
The stocks maintaining their prices included Altri, CTT, and Ibersol, stable at 5.27 euros, 7.57 euros, and 9.90 euros, respectively, as well as NOS and Sonae, at 3.80 euros and 1.23 euros, respectively.
Following Galp and EDP Renováveis were Corticeira Amorim, Semapa, and REN, rising by 1.78% to 8.00 euros, 1.37% to 17.82 euros, and 0.50% to 2.99 euros, respectively.
More moderately, EDP and Navigator shares appreciated by 0.48% to 3.56 euros and 0.18% to 3.42 euros, respectively.
Conversely, shares of Jerónimo Martins, Mota-Engil, and BCP declined by 1.76% to 21.20 euros, 0.04% to 4.46 euros, and 0.03% to 0.67 euros, respectively.
Leading European stock exchanges opened in the red today, digesting the new rate cut from the European Central Bank (ECB), comments from President Christine Lagarde, and the confrontation between U.S. President Donald Trump and businessman Elon Musk.
The markets are reacting negatively after the ECB cut its main interest rate by 25 basis points to 2% on Thursday.
Meanwhile, the Monetary Policy Committee of the Reserve Bank of India (RBI) today reduced the benchmark interest rate by 50 basis points to 5.5%, the lowest level since August 2022.
In the U.S., the rift between Trump and Musk, owner of Tesla, was evident, beginning with the businessman’s disapproval of the U.S. President’s tax plan and escalating with threats of government contract cancellations and allegations by Musk that Trump is on Jeffrey Epstein’s list.
Wall Street futures are rising by 0.39% for the Dow Jones Industrials, 0.41% for the S&P 500, and 0.39% for the Nasdaq, after closing in decline on Thursday.
Today, U.S. focus will be on the Department of Labor’s May non-farm payroll report, which is crucial for assessing the current state of the country’s labor market.
Tesla fell by more than 14% following the conflict between Elon Musk and Trump, who threatened to withdraw public aid, while U.S.-China trade tensions remain unresolved.
Troy ounce gold, a safe haven asset, rose to 3,361.01 dollars, compared to 3,354.15 dollars on Thursday and the current historic high, 3,414.65 dollars, recorded on April 21.
The price of Brent crude for August delivery, the benchmark in Europe, decreased to 65.02 dollars per barrel, down from 65.34 dollars on Thursday, due to OPEC+’s decision to increase production in July and the rising tensions in the Russia-Ukraine war and Iran-U.S. nuclear talks.
The euro fell to 1.1428 dollars on the Frankfurt forex market, compared to 1.1448 dollars on Thursday and 1.1509 dollars on April 21, marking a new high since November 12, 2021.
