Around 09:25 in Lisbon, the PSI maintained its initial upward trend, rising 0.94% to 7,698.19 points, with 14 stocks advancing and one declining (EDP Renováveis, -0.39% to 10.30 euros).
Mota-Engil shares were followed by those of CTT and Jerónimo Martins, which appreciated 2.46% to 7.49 euros and 2.24% to 21.00 euros, respectively.
More moderately, shares of REN, Ibersol, and Navigator increased by 1.86% to 3.02 euros, 1.48% to 9.60 euros, and 1.42% to 3.14 euros, respectively.
BCP, Altri, and Galp shares advanced 1.38% to 0.72 euros, 1.14% to 4.86 euros, and 0.89% to 16.49 euros, respectively.
Similarly, shares of Corticeira Amorim, Semapa, and Sonae advanced 0.64% to 7.85 euros, 0.57% to 17.60 euros, and 0.48% to 1.26 euros, respectively.
Shares of NOS and EDP also rose, notably 0.41% to 3.67 euros and 0.27% to 3.75 euros, respectively.
Major European stock markets started the day with moderate gains, recovering from Friday’s losses induced by the new tariff plan of U.S. President Donald Trump, set to take effect on August 7.
Futures for major Wall Street market indicators suggest a moderately optimistic opening, following Friday’s steep declines, which were also influenced by a weak U.S. employment report.
Experts from Schroders, commented that the employment report was expected to indicate a solid U.S. labor market, but the data “put that into question.” The specialists further added that this information might lead the U.S Federal Reserve (Fed) to reconsider its policy, possibly accelerating a cycle of monetary easing.
Despite the optimism in Europe, in Asia, Tokyo’s Nikkei index fell more than 1%, while the Shanghai and Hong Kong (Hang Seng) markets recorded gains.
Over the weekend, OPEC+ decided to increase oil production by 547,000 barrels per day starting September 1.
Brent crude, the benchmark oil in Europe for October delivery, rose to 69.91 dollars, up from 69.67 dollars on Friday.
The euro dropped to 1.1562 dollars in Frankfurt’s foreign exchange market, down from 1.1587 dollars on Friday and the new maximum since September 15, 2021, of 1.1789 dollars on July 2.
