Lisbon, July 11, 2024 (Lusa) - The Lisbon stock market was trading lower on Thursday, with Galp shares leading the losses, down 4.07% to €18.88.
At around 10:15 a.m. in Lisbon, the PSI reversed the opening trend and was down 0.37% to 6,717.13 points. Eight shares rose, seven fell, and one remained unchanged (Ibersol at €6.98).
Galp's shares were followed by NOS, REN and Navigator, which fell 0.43% to €3.48, 0.22% to €2.32 and 0.21% to €3.84.
Altri, Greenvolt and BCP shares fell 0.19% to €5.35, 0.18% to €8.41 and 0.05% to €0.38.
On the other hand, CTT shares led the gains and rose 2.45% to €4.39, followed by Mota-Engil, which gained 0.91% to €3.56.
EDP Renováveis and EDP shares rose 0.66% to €13.82 and 0.62% to €3.58.
Also rising, Corticeira Amorim and Jerónimo Martins shares recorded gains of 0.51% to €9.76 and 0.47% to €19.39.
The other two shares to rise were Semapa and Sonae, which were up 0.14% to €14.72 and 0.11% to €0.93.
The main European stock markets were up today, awaiting the US inflation rate for June.
Investors are awaiting inflation data in the US, after learning that in Germany, year-on-year inflation was 2.2% in June, down two tenths of a percentage point on May (2.4%) and that in the UK, Gross Domestic Product (GDP) grew by 0.4% in May, after not increasing in the previous month.
Stock market futures on Wall Street pointed to a lower opening as investors awaited the CPI data in the US.
Following Wall Street's positive close on Wednesday, the Tokyo Stock Exchange's main index, the Nikkei, rose 0.94 % today and broke through the 42,000 point barrier for the first time, while the Shanghai Stock Exchange gained 1.06 %, the Shenzhen Stock Exchange 1.99 % and the Seoul Stock Exchange advanced 0.81 %.
Meanwhile, investors are still awaiting developments from the French elections, where the left recorded an important electoral turnaround by winning the legislative elections, relegating Marine Le Pen's far-right to third place.
The political map left by the second round in France predicts an extremely divided National Rally without clear majorities, which means that the country's governability is entering a very uncertain phase.
Interest rates on Germany's 10-year bond, considered the safest in Europe, rose to 2.539%, up from 2.531% on Wednesday, while France's remained at 3.183%.
A barrel of Brent oil for September delivery opened higher today, at $85.48 on London's Intercontinental Exchange Futures (ICE), compared to $85.08 on Wednesday.
A barrel of West Texas Intermediate (WTI) also rose by 0.34% to $82.38 before the market officially opened.
On the foreign exchange front, the euro opened stronger on the Frankfurt exchange market, at $1.0840, compared to $1.0827 in the previous session.
MC/ADB // ADB.
Lusa
