Around 09:30 in Lisbon, the PSI, which has consisted of 16 companies since September 22, continued the downward trend that started at the opening, falling 0.16% to 8,216.55 points. Ten stocks rose, five fell, and one remained unchanged (Sonae at 1.38 euros).
The PSI concluded Thursday’s session at 8,229.95 points, marking a new high since April 2010.
The shares of Mota-Engil were followed by those of Teixeira Duarte and EDP Renováveis, which dropped 1.38% to 0.57 euros and 1.01% to 12.78 euros, respectively.
Shares of Galp and EDP also declined, with Galp decreasing 0.36% to 16.59 euros and EDP falling 0.05% to 4.20 euros.
Conversely, Ibersol, REN, and Navigator shares rose 0.99% to 10.2 euros, 0.98% to 3.10 euros, and 0.57% to 3.18 euros, respectively.
Shares of Corticeira Amorim and Semapa increased 0.56% to 7.23 euros and 0.43% to 18.76 euros, while shares of Altri and NOS both advanced 0.40% to 5.02 euros and 3.79 euros.
Other stocks that experienced gains were Jerónimo Martins and BCP, with increases of 0.29% to 20.72 euros and 0.24% to 0.76 euros, respectively.
Key European stock markets opened higher today, although investors remain cautious amid political crises in France and the U.S., following a mostly lower close in Asian markets on Wall Street.
At the market opening, the euro was affected by political uncertainties in both France and the U.S., trading since Thursday at approximately 1.15 dollars — levels not reached for over two months. Investors are waiting for developments in France, after President Emmanuel Macron set a deadline today to appoint a prime minister whose primary task will be to seek consensus on a 2026 budget that ensures stability and fulfills European commitments.
Simultaneously, the U.S. Senate again failed to end the partial shutdown of the federal government, leaving numerous agencies unfunded and affecting hundreds of thousands of federal employees nationwide.
Investors are also keenly awaiting the 24-hour period for the ceasefire agreement in Gaza to take effect. The Israeli government has approved the accord, which includes the release of all Israeli hostages, the release of Palestinian prisoners, and the partial withdrawal of Israeli troops from Gaza.
In the macroeconomic agenda, attention is on the University of Michigan’s preliminary reading of October’s consumer sentiment index, anticipated to show slight improvement from September’s reading, despite remaining historically low.
After closing lower on Thursday, Wall Street futures point to a modest advance, not exceeding 0.10% across the three indices.
The price of gold, traditionally seen as a safe-haven asset during uncertain times, was declining today, trading at 3,960.34 dollars an ounce, after reaching an all-time high of 4,056.63 dollars on October 8.
Brent crude, the European benchmark for oil, is down to 64.75 dollars for December delivery, compared to 65.22 dollars on Thursday.
The euro strengthened to 1.1575 dollars in the Frankfurt foreign exchange market, against 1.1558 dollars on Thursday, approaching the four-year high of 1.1865 dollars recorded on September 16.
