Lisbon, June 12, 2025 (Lusa) - The Lisbon stock market was holding on to its opening trend and trading higher this Thursday morning, with seven stocks falling and eight rising, led by REN, which was up 1%.
At 9:30 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was rising 0.23% to 7,496.71 points, with REN - Redes Energéticas Nacionais shares rising 1% to €3.03.
Also up, but by less than 1%, were Galp Energia, NOS, EDP Renováveis and EDP, rising 0.55%, 0.52%, 0.42% and 0.36%, to €15.52, €3.86, €9.65 and €3.61, respectively.
EDP announced on Wednesday that it had won an auction to develop its first wind energy project in Germany, through EDP Renováveis, which is expected to come into operation at the end of this decade.
Also rising were Sonae (+0.34% to €1.20), Jerónimo Martins (+0.28% to €21.54) and Ibersol (+0.20% to €9.88).
In contrast, the biggest drop was recorded by BCP shares, which were falling 1.13% to €0.67.
CTT was losing 0.95% to €7.31, Corticeira Amorim down 0.89% to €7.83, Mota-Engil -0.81% to €4.15, Semapa -0.74% to €16.12, Altri -0.58% to €5.13 and Navigator -0.36% to €3.35.
European stock markets opened lower today, discouraged by the lack of concrete details on the preliminary agreement in trade negotiations between the United States and China.
At around 8:45 a.m. in Lisbon, the EuroStoxx 600 was down 0.61% to 548.28 points.
The London, Paris and Frankfurt stock markets were losing 0.02%, 0.77% and 1.00%, respectively, while Madrid and Milan were down 0.35% and 0.81%.
London recorded this slight decline after it was announced that the United Kingdom’s Gross Domestic Product (GDP) contracted by 0.3% in April, mainly due to the decline in the industrial sector.
At the opening of the session, the euro was stronger, appreciating 0.26% against the US dollar and was trading above US$1.15.
China and the US concluded two days of negotiations in London on Tuesday with a preliminary agreement to establish a framework beneficial to both parties, following talks between US President Donald Trump and his Chinese counterpart Xi Jinping last week.
The Chinese Ministry of Foreign Affairs emphasised today that the country “always honours its commitments” and called on the US to do the same, after Trump announced that the two powers had reached a trade agreement that includes tariffs of 55% on Chinese products and 10% on American products entering Beijing.
In Asia, the Nikkei index on the Tokyo Stock Market reacted with a 0.68% drop, while the benchmark index on the Shanghai Stock Market gained 0.01%, Shenzhen lost 0.11% and the Hang Seng, a few minutes before closing, was down 0.87%.
Wall Street futures are advancing with moderate declines of 0.13% for the Dow Jones Industrials, 0.10% for the S&P500 and 0.13% for the Nasdaq, after the former closed almost flat on Wednesday, while the broader S&P500 fell 0.27% and the technology index lost 0.50%.
Trade tensions are driving investors to seek refuge in gold, which rose 1.42%, with the ounce trading close to US$3,400.
Meanwhile, oil recorded falls of close to 1%. In the case of Brent, the benchmark in Europe, the fall was 0.87% to US$ 69.15 per barrel, while West Texas Intermediate, the benchmark in the US, fell 0.7% to US$ 67.61.
In the debt market, the interest rate on 10-year German bonds fell to 2.495%.
Bitcoin fell 0.93% to US$107,917.30 .
PD/AYLS // AYLS
Lusa
