Lisbon, April 17, 2025 (Lusa) - The Lisbon stock market was trading lower on Thursday morning with 11 of the 15 PSI shares falling, led by Mota-Engil, which was down 4.55% to €3.36. At around 9.15 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Market Index) was maintaining its opening trend and falling 0.46% to 6,715.89 points, with 11 shares falling and four rising. Mota-Engil's shares were followed by those of CTT, EDP Renováveis and Altri, which were down 1.40% to €7.04, 0.91% to €7.61 and 0.74% to €6.15. More moderately, shares in EDP, Corticeira Amorim and Semapa were falling 0.59% to €3.22, 0.54% to €7.30 and 0.45% to €15.60. Sonae and REN shares were off 0.38% to €1.04 and 0.36% to €2.79. The other two shares below the waterline were Navigator and NOS, down 0.19% to €3.24 and 0.12% to €4.09. In the opposite direction, shares in Ibersol and Jerónimo Martins were rising 1.14% to €8.90 and 0.58% to €20.96. BCP and Galp shares were up 0.29 % to €0.55 and 0.07 % to €13.50. The main European stock markets opened lower today, on a day when the market is awaiting the meeting of the European Central Bank (ECB), which is expected to cut interest rates by a quarter of a point. The euro was stronger, rising to US$1.1370 on the Frankfurt exchange market, against US$1.1274, a new high since 10 February 2022. The price of an ounce of gold, a safe haven asset, was falling to US$3,323.58, down from US$3,327.37 on Wednesday, a new all-time high since 10 February 2022. On the other side of the Atlantic, and after the US imposed new restrictions on the export of Nvidia chips to China, the stock market on Wall Street ended the day with losses dragged down by chip manufacturer Nvidia itself, which fell by almost 7%. On Wednesday, Federal Reserve (Fed) Chairman Jerome Powell also assured that the central bank's data points to an economic slowdown between January and March, in the context of President Donald Trump's tariff policy. "Tariffs are very likely to lead, at least temporarily, to higher inflation," warned Powell, who said he would have to wait “for greater clarity before considering any adjustments to the (monetary) policy stance”. At this time of day, the futures of the main Wall Street indicators are pointing to a bullish opening, while in Asia, Tokyo's Nikkei is up 1.35 %, after Trump assured that negotiations on tariffs with Japan were positive and that he could continue to make progress in the coming days. The price of Brent oil for June delivery, the benchmark in Europe, advanced to US$66.23, against US$65.85 in the previous session, after both the International Energy Agency (IEA) and the Organisation of Petroleum Exporting Countries (OPEC) revised downwards their oil production forecasts for this year and 2026. MC/AYLS // AYLS Lusa