As of 09:20 in Lisbon, the PSI maintained its opening trend, decreasing 0.62% to 7,499.12 points, compared to 7,545.86 points on Monday, marking a new high since May 2014, with 11 stocks declining, two rising, and two remaining unchanged (Navigator at 3.30 euros and NOS at 3.92 euros).
The shares of Ibersol were followed by those of Mota-Engil, EDP Renováveis, and BCP, which fell 2.55% to 3.97 euros, 1.69% to 9.61 euros, and 1.23% to 0.69 euros respectively.
More moderately, the shares of Jerónimo Martins, EDP, and Sonae declined by 1.11% to 21.32 euros, 1.07% to 3.60 euros, and 0.84% to 1.18 euros. Shares of CTT and REN fell 0.54% to 7.32 euros and 0.50% to 2.99 euros.
The other two rising stocks were those of Corticeira Amorim and Semapa, specifically up by 0.39% to 7.75 euros and 0.37% to 16.22 euros.
Conversely, aside from Galp, shares of Altri declined 0.39% to 5.09 euros.
Major European stock markets opened lower today due to escalating tensions in the Middle East conflict and the sudden withdrawal of U.S. President Donald Trump from the ongoing G7 meeting in Alberta, Canada.
Following significant gains the previous day in major European stock markets, investors are focusing on Trump’s departure from the G7 summit, citing increased tensions in the Middle East, which prevented him from participating in several discussions on global trade and security, further worsening the sentiment in global financial markets, noted analysts at Link Securities.
Trump has warned of the need to evacuate Tehran, allegedly in light of the possibility of Israel launching direct attacks on the Iranian capital, following Iranian strikes on various points in Jerusalem.
In the macroeconomic agenda, the ZEW institute is publishing its indices today, which assess the perception of the current and future economic situation in Germany by major investors and analysts, for the month of June.
Both the expectations index and the current situation index are expected to have slightly recovered in the month compared to May’s figures.
The stock market in Wall Street closed in the ‘green’ on Monday.
In commodities, gold prices are falling while oil prices are rising.
Gold per troy ounce, a safe-haven asset, was down to 3,386.15 dollars, from 3,399.51 dollars on Monday and 3,432.34 dollars on Friday, marking a new historical high.
Brent crude, the benchmark oil in Europe, for delivery in August, is rising to 73.34 dollars, from 73.23 dollars on Monday, and after having risen more than 7% in the London futures market, supported by fears of a disruption in oil supply from the Middle East due to the war between Israel and Iran.
The euro was down to 1.1556 dollars in the Frankfurt foreign exchange market, compared to 1.1584 dollars on Monday, marking a new high since November 9, 2021.
