Lisbon, July 1, 2025 (Lusa) - The Lisbon stock market was trading higher on Tuesday morning, with Jerónimo Martins shares advancing 3.82% to €22.30, and Semapa shares the only ones to fall, down 0.24% to €16.66.
At around 09:20 in Lisbon, the benchmark PSI (Portuguese Stock Index) was holding on to its opening trend and rising 1.18% to 7,544.42 points, with 14 stocks rising and only Semapa falling.
Jerónimo Martins shares shot up to their highest level since 8 May after research firm Citi raised its recommendation on the retailer's shares to ‘buy’, citing expectations of a recovery in the Polish food market, Bloomberg reported.
The upgrade reflects expected improvements in the retailer's three key markets: Portugal, Poland and Colombia, with particular emphasis on the improved performance of its Biedronka chain in Poland.
Citi projects double-digit growth rates for Jerónimo Martins' bottom line in the coming years, with positive contributions expected from all three regions after a period of weak comparable sales and margin pressure.
Jerónimo Martins shares were followed by EDP Renováveis, Sonae and NOS, which were gaining 2.27% to €9.69, 1.99% to €1.23 and 1.55% to €3.93.
Similarly, EDP, CTT and Mota Engil shares were rising 1.49% to €3.74, 1.32% to €7.65 and 1.04% to €3.88.
More moderately, Galp, Corticeira Amorim and Altri shares were up 0.90% to €15.71, 0.51% to €7.96 and 0.51% to €4.89.
Shares in Ibersol, Navigator, BCP and REN were also rising 0.62% to €9.74, 0.63% to €3.21, 0.64% to €0.66 and 0.83% to €3.05.
The main European stock markets opened the second half of the year with gains in London and Madrid and losses in Frankfurt, Paris and Milan, in a session marked by the start of the meeting of central bankers in Sintra, in the Lisbon district, with Powell (Fed) and Lagarde (ECB).
In Asia, the main indicator of the Tokyo Stock Exchange, the Nikkei, fell 1.24%, pressured by uncertainty over tariff negotiations between Japan and the United States, while the benchmark index of the Shanghai Stock Exchange gained 0.39%.
Futures on Wall Street are falling no more than 0.25% across all three indices, after closing higher on Monday, with the S&P 500 and Nasdaq reaching record highs.
With just over a week to go before the deadline set by US President Donald Trump to finalise trade agreements, progress is considered insufficient in most cases, and the deadline could be extended to September, as Washington has suggested.
Similarly, in the US, approval is still pending for the tax and defence spending package supported by Trump, known as ‘The One Big Beautiful Bill Act’.
In terms of raw materials, gold rose 1.25% to US$3,349 per ounce, while oil prices rose moderately, with Brent, the European benchmark, rising 0.15% and the price per barrel settling at US$66.84.
Meanwhile, West Texas Intermediate, the US benchmark, also rose 0.17% to US$65.22 per barrel before the official market opened.
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