The Lisbon stock market was trading sharply lower this morning, with 15 companies in the PSI (Portuguese Stock Index) falling, led by CTT, which was falling 9.58% to €6.04, while the only riser was Galp, up 2.58% to €21.90.
At around 9:50 a.m., the benchmark PSI deepened its opening trend, falling 1.73% to 8,976.20 points, with 15 companies down and only Galp rising.
CTT shares were followed by Sonae, Teixeira Duarte and Mota-Engil, which were falling 4.72% to €1.86, 3.67% to €0.42 and 3.63% to €4.19, respectively.
Jerónimo Martins, Semapa and BCP shares were falling more than 3%, specifically 2.97% to €20.90, 2.57% to €20.85 and 2.47% to €0.80.
More moderately, Altri and EDP Renováveis shares were down 1.51% to €4.56 and 1.27% to €13.20, while Corticeira Amorim and REN fell 1.10% to €6.27 and 1.03% to €3.85.
NOS and Navigator shares were down 0.75% to €5.31, while the other two declining stocks were EDP (-0.62% to €4.33) and Ibersol (-0.46% to €10.75).
Major European bourses also opened sharply lower today due to rising oil prices following attacks on energy infrastructure in the Middle East and a lack of expectations for rate cuts by the US Federal Reserve (Fed).
At the market opening, the euro remained stable, trading at $1.1457 on the Frankfurt foreign exchange market, compared to $1.1452 on Wednesday.
The European Central Bank (ECB) is expected to keep the key rate at 2% and the Bank of England at 3.75%, after the Fed did the same yesterday and kept rates in the 3.5% – 3.75% range.
US index futures pointed to declines of 0.45% for the Nasdaq and 0.28% for the Dow Jones.
Precious metals recorded falls, with gold down 0.18% and silver down 0.20%.
Source material: LUSA
