Lisbon, June 24, 2025 (Lusa) - The Lisbon stock market was trading higher on Tuesday morning, with BCP shares leading the gains, rising 1.72% to €0.66 and Galp shares falling 3.46% to €15.10.
At around 9:30 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was holding its opening trend and advancing 0.28% to 7,430.70 points, against a new high since May 2014 of 7,545.86 points on June 16, with 11 stocks rising and three falling (Galp, -3.46% to €15.10, EDP, -0.87% to €3.66 and REN -0.8% to €3.07).
BCP shares were followed by Mota-Engil, CTT and Semapa, which were rising 1.51% to €3.64, 1.26% to €7.26 and 1.11% to €16.38.
More moderately, Sonae, NOS and Altri shares were up 1.02% to €1.19, 0.93% to €3.81 and 0.92% to €4.91.
Shares in Corticeira Amorim, Ibersol and EDP Renováveis were rising 0.77% to €7.82, 0.43% to €9.38 and 0.31% to €9.73.
The other two stocks on the rise were Navigator and Jerónimo Martins, namely 0.31% to €3.27 and 0.19% to €20.96.
The main European stock markets opened higher today after the Israeli government confirmed that it had accepted Donald Trump’s proposal for a “bilateral ceasefire” with Iran, and oil prices fell sharply.
On Monday, all European markets ended in the red, while Wall Street posted gains of around 1%.
India’s main stock indexes also welcomed today’s announcement by US President Donald Trump of a ceasefire between Israel and Iran after weeks of attacks, with gains of more than 1%.
Wall Street futures were advancing with gains of 0.87% for the Dow Jones Industrials, 0.3% for the S&P 500 and 1.23% for the Nasdaq.
In addition to developments between Israel and Iran, stock markets will also be watching the start of the NATO summit, which is expected to approve today a target of 5% of GDP for annual defence and security spending by 2035, with flexibility for Spain to spend less.
Similarly, Federal Reserve (Fed) Chairman Jerome Powell is presenting the monetary policy report to the US House of Representatives Financial Services Committee, a week after the body decided to keep interest rates unchanged despite public pressure from Trump to lower them.
Brent crude oil, the benchmark in Europe, for August delivery is falling to US$71.48, compared to US$77.01 on Monday.
Gold per troy ounce, a safe-haven asset, was also down 1.73% to US$3,321.34, compared to US$3,389.91 on Monday and US$3,432.34 on June 13, a new all-time high.
The euro was stronger, rising to US$1.1604 on the Frankfurt currency market, a new high since October 28, 2021, compared with US$1.1545 on Monday.
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