At approximately 09:30 in Lisbon, the PSI maintained its opening trend and advanced 0.72% to 7,762.86 points, with eight stocks rising and seven declining.
Following the shares of EDP Renováveis, EDP, Mota-Engil, and Jerónimo Martins advanced 1.66% to 3.87 euros, 1.54% to 4.23 euros, and 0.89% to 22.58 euros, respectively.
More moderately, shares of Ibersol, Navigator, and BCP appreciated 0.60% to 10.00 euros, 0.24% to 3.28 euros, and 0.18% to 0.66 euros.
Altri’s shares rose 0.10% to 4.95 euros.
Conversely, shares of CTT, Galp, and REN decreased, specifically 0.90% to 7.73 euros, 0.34% to 16.24 euros, and 0.32% to 3.09 euros.
Shares of NOS and Sonae fell 0.26% to 3.78 euros and 0.16% to 1.25 euros, as well as those of Corticeira Amorim and Semapa, which declined 0.13% to 7.99 euros and 0.12% to 17.23 euros.
Major European stock exchanges opened higher today, while the EU and the US remain open to dialogue to avoid Washington imposing 30% tariffs on European imports.
Meanwhile, Brussels continues working on possible retaliation against the US if an agreement is not reached by August, after US President Donald Trump also threatened Russia with 100% tariffs if no agreement is reached on the war with Ukraine within the next 50 days.
European markets are awaiting the four-year government plan presented by French Prime Minister François Bayrou to recover public finances and curb the worrying rise in debt.
It was also announced that European Commission President Ursula von der Leyen and European Council President António Costa plan to visit Japan next week to seal an alliance with Tokyo aimed at expanding cooperation in various domains amid fears of a trade war, according to Japanese media reports.
As for the day’s macroeconomic data in Asia, China’s Gross Domestic Product (GDP) grew 1.1% in the second quarter compared to the previous quarter, according to official data published today by the National Statistics Office (NSO) of the Asian country.
Awaiting today’s data on US inflation for June, after prices in May accelerated to 2.4% year-on-year, one-tenth above April’s figure, Wall Street futures advanced with gains of 0.06% for the Dow Jones Industrials, 0.30% for the S&P 500, and 0.48% for the Nasdaq, after the three indices ended with slight increases on Monday.
Meanwhile, oil prices fell as the July monthly report presented today by the Organization of the Petroleum Exporting Countries (OPEC) on crude supply and demand is anticipated amid uncertainty in international markets due to US tariff policy.
Brent crude, the benchmark in Europe for September delivery, is dropping to 68.68 dollars, against 69.21 dollars on Monday.
Gold per troy ounce, a safe haven asset, was rising to 3,360.54 dollars, against 3,347.89 dollars on Monday and the current all-time high of 3,432.34 dollars on June 13.
The euro strengthened to 1.1677 dollars in the foreign exchange market in Frankfurt, against 1.1662 dollars on Monday and a new high since September 15, 2021, of 1.1789 dollars on July 2.
