Lisbon, May 7, 2026 (Lusa) – The Lisbon stock market is trading flat on Thursday morning, with Galp falling 1.94% to €18.92 and Jerónimo Martins rising 1.67% to €20.66.
Around 9:30 a.m. in Lisbon, the PSI (Portuguese Stock Index) had reversed its opening trend and was dropping 0.03% to 9,263.22 points. Seven companies saw their shares fall, eight rose, and one remained unchanged (NOS at €5.20).
On Thursday, Environment and Energy Minister Graça Carvalho told parliament that Brazil could increase aviation fuel (jet fuel) exports if shortages occur at Portuguese airports.
During a parliamentary hearing on Wednesday, she said that Galp produces 80% of jet fuel requirements and maintains "secure contracts and suppliers for the remaining 20%."
Also on Wednesday, Jerónimo Martins announced a 6.8% fall in first-quarter profits compared to the same period in 2025, totalling €119 million.
In a statement sent to the Portuguese Securities Market Commission (CMVM), the owner of Pingo Doce, Biedronka, and Ara supermarkets attributed the result to "the effects of interest and exchange rate differences calculated with the capitalisation of rents, in accordance with IFRS16" (international accounting standard). Galp's decline was followed by EDP Renováveis, REN, and CTT, which fell 1.60% to €14.17, 0.80% to €3.71, and 0.71% to €6.26, respectively. More moderately, Altri, EDP, and Sonae dropped 0.59% to €5.05, 0.27% to €4.39, and 0.20% to €1.96.
In contrast, following Jerónimo Martins, Mota-Engil and BCP advanced 1.27% to €4.96 and 1.11% to €0.93.
Teixeira Duarte, Navigator, and Semapa gained, rising 1.02% to €0.45, 0.65% to €3.40, and 0.42% to €24.00, respectively.
Ibersol (up 0.33% to €12.00) and Corticeira Amorim (up 0.14% to €7.07) traded higher.
Major European stock markets opened cautiously higher on Thursday following reports of a potential peace agreement in Iran and the reopening of the Strait of Hormuz. These developments led to another drop in the price of Brent crude oil.
The euro rose 0.14% to €1.1765 on the Frankfurt currency market.
Thursday morning, Dow Jones and Nasdaq futures pointed to gains of 0.35% and 0.28%, respectively.
Investors chose to take profits this Thursday after markets climbed more than 2% on Wednesday, capitalising on recent price increases across many securities.
The US and Iran are approaching an agreement on a memorandum to end the war, according to a CNN report citing a regional source close to the negotiations.
Iran is expected to respond to the US proposal through mediators on Thursday.
In this context, the price of Brent crude, the European benchmark for July delivery, fell 2.95% to US$98.28.
Conversely, precious metals rose, with gold increasing 1.03% to US$4,739.54 per ounce and silver gaining 2.52% to US$79.31.
On the macroeconomic agenda, the European statistics agency Eurostat will release Eurozone retail sales figures for March on Thursday.
Analysts generally expect this indicator to fall again due to low consumer confidence in the region, particularly following the outbreak of conflict in the Middle East and the resulting rise in energy prices.
MC/RYOL // AYLS
Lusa
