Lisbon, Nov. 13, 2024 (Lusa) - The Lisbon stock market maintained its opening trend and traded higher, with 13 of the 15 PSI shares rising, led by Mota-Engil, which rose 1.64% to €2.61.
At around 09:30 in Lisbon, the PSI was up 0.50% to 6,364.51 points, with 13 shares falling and two remaining unchanged (Ibersol at €7.46 and REN at €2.32).
Mota-Engil announced on Monday that it had signed contracts with Allied Gold Corporation, a gold mining company, in Ivory Coast, Mali and Ethiopia, worth an estimated €1.4 billion.
In a statement sent to the Portuguese Securities Market Commission (CMVM), Mota-Engil said that, through its subsidiary Mota-Engil Africa, it had signed with Allied Gold Corporation ‘several contracts (six) for the operation of all its assets in production (Mali and Ivory Coast) and one award (Ethiopia - new mine)’.
Mota-Engil's shares were followed by those of Corticeira Amorim, BCP and Jerónimo Martins, which rose 1.10% to €8.28, 0.93% to €0.45 and 0.80% to €18.87.
Galp, NOS and Semapa shares advanced 0.61% to €15.59, 0.59% to €3.38 and 0.57% to €14.02.
More moderately, shares in EDP Renováveis, Sonae and Altri rose 0.56% to €10.70, 0.54% to €0.93 and 0.40% to €5.03.
The other two shares that rose were EDP, 0.27% to €3.36, and Navigator and CTT, which both rose 0.11% to €3.49 and €4.43, respectively.
The main European stock markets were up today, awaiting the US inflation rate for October, which experts expect to show a slight rise.
European markets opened today with doubts after closing the day before with heavy losses due to fears that a tariff war between the US and China could impact global growth.
Experts at Link Securities quoted by Efe expect global inflation to have recovered slightly and underlying inflation to have remained stable. However, they rule out that none of this ‘changes the US Federal Reserve's (Fed) view that it will continue to lower interest rates’.
Experts at Renta4 quoted by Efe also expect a rise in the overall rate and stability in the underlying rate.
‘This data, together with the official US employment report on 6 December, will be the two most relevant references for determining whether or not the Fed will cut rates at the next meeting on 18 December,’ they said.
The stock market on Wall Street ended Tuesday in negative territory, reversing the upward trend since Republican Donald Trump's victory in the presidential elections.
In Asia, Tokyo's Nikkei lost 1.66% and Hong Kong's Hang Seng 0.12% on a day when the yen hit its lowest level in three and a half months against the dollar.
A barrel of Brent oil for delivery in January 2025 opened lower today, at $71.84 on London's Intercontinental Exchange Futures (ICE), compared to $71.89 on Tuesday.
On the cryptocurrency market, bitcoin fell by 0.75% to $87,655.55 (€82,485.50), after touching $90,000 the day before.
The troy ounce of gold rose 0.31% to $2,606.55.
The yield on Germany's 10-year bond, considered the safest in Europe, rose to 2.377%, compared to 2.360% in the previous session.
On the currency front, the euro opened weaker at $1.0605 on the Frankfurt exchange, a low since November 2023, compared to $1.0607 on Tuesday.
MC/ADB // ADB.
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