Lisbon, June 17, 2025 (Lusa) - The Lisbon stock market was trading lower on Tuesday morning, with Ibersol shares falling 6.67% to €9.52 and Galp shares rising 2.60% to €16.19.
At around 9:20 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was holding on to its opening trend and falling 0.62% to 7,499.12 points, against the close on Monday of 7,545.86 points, a new high since May 2014, with 10 stocks falling, three rising and two maintaining their prices (Navigator at €3.30 and NOS at €3.92).
Ibersol shares were followed by Mota-Engil, EDP Renováveis and BCP, which were down 2.55% to €3.97, 1.69% to €9.61 and 1.23% to €0.69.
More moderately, Jerónimo Martins, EDP and Sonae shares were falling 1.11% to €21.32, 1.07% to €3.60 and 0.84% to €1.18. Shares in CTT and REN were off 0.54% to €7.32 and 0.50% to €2.99. Altri shares were down 0.39% to €5.09 After Galp, which is being buoyed up by rising oil prices due to the Middle East tension, the other two shares on the rise were Corticeira Amorim and Semapa, up 0.39% to €7.75 and 0.37% to €16.22.
The main European stock markets opened lower today due to escalating tensions in the Middle East conflict and US President Donald Trump’s “hasty” withdrawal from the G7 meeting taking place in Alberta, Canada.
After yesterday’s remarkable rises on the main European stock markets, investors are focusing on Trump abandoning the G7 summit, under the pretext of increased tensions in the Middle East, which prevented him from participating in several talks on trade and global security, contributing to further deteriorating the mood of global financial markets, according to analysts at Link Securities, quoted by Efe.
Trump has warned of the need to evacuate Tehran, allegedly in view of the possibility of Israel carrying out direct attacks on the Iranian capital after Iran bombed several locations in Jerusalem.
On the macroeconomic agenda, the ZEW institute is publishing its indices today, which assess the perception of the current and future situation of the German economy by leading investors and analysts, in this case for the month of June.
Both the expectations index and the current situation index are expected to have recovered slightly in the month compared to May’s figures.
The stock market on Wall Street closed in the green on Monday.
In commodities, gold prices fell and oil prices rose.
Gold per troy ounce, a safe-haven asset, fell to US$3,386.15, compared to US$3,399.51 on Monday and US$3,432.34 on Friday, a new all-time high.
Brent crude oil, the European benchmark, for August delivery, rose to US$73.34, compared with US$73.23 on Monday, after rising more than 7% on the London futures market, supported by fears of a disruption in oil supplies from the Middle East due to the war between Israel and Iran.
The euro was weaker, falling to US$1.1556 on the Frankfurt currency market, against US$1.1584 on Monday, a new high since November 9, 2021.
MC/AYLS // AYLS
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