Around 9:10 a.m. in Lisbon, the PSI maintained its opening trend, declining by 0.57% to 6,911.73 points, with 11 stocks falling, three rising, and one remaining steady (Ibersol at 8.72 euros).
On Thursday, the CTT announced to the market that they received authorization from the Spanish regulator to acquire the customs clearance company Compañia Auxiliar al Cargo Expres (Cacesa).
The acquisition, conducted through the subsidiary CTT Expresso, was approved “without reservations” by the Spanish competition regulator (CNMC), according to a statement issued by the group led by João Bento.
CTT anticipates that the acquisition of Cacesa by CTT Expresso will be finalized during April.
The deal, initially announced on December 18, 2024, values Cacesa’s assets at 91 million euros.
Following the CTT shares, BCP, EDP Renováveis, and Mota-Engil shares fell by 1.52% to 0.56 euros, 1.26% to 7.86 euros, and 1.25% to 3.46 euros, respectively.
In the same downward trend, shares of Semapa, Navigator, and Sonae slid by 1.03% to 15.34 euros, 1.02% to 3.29 euros, and 0.93% to 1.07 euros, respectively.
Shares of Altri and Jerónimo Martins decreased by 0.83% to 5.98 euros and 0.76% to 19.60 euros.
The other two declining stocks were Corticeira Amorim and EDP, down by 0.50% to 7.96 euros and 0.31% to 3.17 euros, respectively.
Conversely, shares of NOS, Galp, and REN rose by 0.34% to 4.45 euros, 0.22% to 16.17 euros, and 0.18% to 2.74 euros.
Major European stock markets were trading lower today amid concerns over new tariffs expected to be announced on Wednesday by U.S. President Donald Trump.
In Madrid, Repsol led the declines, dropping 2.65% after the Trump administration notified the company and other oil firms linked to Venezuela’s PDVSA that their licenses to export oil and derivatives from Venezuela were canceled.
European exchanges opened negatively in what could be the fourth consecutive day of losses, anticipating Trump’s new tariffs for different countries on April 2, a day he labeled the “Day of Liberation.”
Last week, Donald Trump announced a 25% tariff on all cars exported to the U.S., effective April 2.
In the macroeconomic sphere, investors will closely monitor preliminary readings of the Inflation Index (ICP) in Germany and Italy for March.
Amid this uncertainty, the price of gold, a safe-haven asset, reached a new all-time high of ,127.92.
Last Friday, Wall Street closed with significant losses due to uncertainty over tariffs and their economic impact.
These declines extended to Asia, where Tokyo’s Nikkei fell by 4.05%, the Hang Seng in Hong Kong by 1.34%, and Shanghai by 0.47%.
The price of Brent crude for May delivery, the European benchmark, fell to .51, down from .63 last Friday.
The euro appreciated, trading at .0829 in the Frankfurt forex market, compared to .0828 last Friday and .0218 on January 13, the lowest since November 10, 2022.
