Stock market ‘rebound’ seen as “fragile respite”
The Lisbon stock market was rebounding and trading higher this morning, in line with its European counterparts, with 12 PSI shares rising, led by those of Mota-Engil, which was up 1.92% to €2.97.
At around 9.15 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was maintaining its opening trend and was up 0.65 % to 6,304.29 points, with 12 shares rising and three falling.
Elsewhere main European stock markets opened higher today after three consecutive sessions of falls – but it is nothing ‘fantastic’, more “a fragile respite supported by hopes of negotiations on Donald Trump’s tariffs”, explains Lusa.
With the European Commission standing firm, member states are seen as being united. In Portugal, the ministry of the economy is starting meetings with Portuguese business associations today to discuss “the possible impact of US tariffs on the domestic economy”.
These meetings had been scheduled for later in the week, but have been brought forward. They are scheduled to run into tomorrow.
The aim is to “open a channel for dialogue with the sectors that will be most affected by the “reciprocal tariffs” framework”, namely the automotive industry, fuels, rubber, the electrical and electronics sector, metallurgy and metalworking, wood and furniture, cork, footwear, tanning, textiles and clothing, home textiles and wool, as well as the employers’ associations AIP, CIP and AEP.
At the same time, the executive wants to hear any proposals for mitigating and minimising the impact on Portuguese exports of Donald Trump’s tariffs.
The meetings are planned with ANIMEE – Portuguese Association of Companies in the Electrical and Electronic Sector, AIP – Portuguese Industrial Association, CIP – Industrial Confederation of Portugal, APF – Portuguese Foundry Association, CEFAMOL – National Association of the Mould Industry and APIP – Portuguese Association of Plastic Industries. Also to be heard are APIB – the Portuguese Rubber Industry Association, APIMA – the Portuguese Furniture and Related Industries Association, AIMMP – the Portuguese Wood and Furniture Industry Association, APPICAPS – the Portuguese Footwear, Components, Leather Goods and Related Products Industry Association and APIC – the Portuguese Tanning Industry Association.
The list of business associations also includes ATP – Textile and Clothing Association of Portugal, ANIVEC – National Association of Clothing and Apparel Industries, ANITLAR – National Association of Home Textile Industries, ANIL – National Association of Wool Manufacturers, APCOR – Portuguese Cork Association and AEP – Business Association of Portugal and AQuimica.
Source: LUSA
