Lisbon, July 21, 2025 (Lusa) - The Lisbon stock market was trading higher on Monday morning, with Galp shares rising 2.62% to €16.28 after the oil company announced its results for the first half of the year and an upward revision of its projections for this year.
At around 9:35 a.m. in Lisbon, the PSI maintained its opening trend and advanced 0.25% to 7,692.94 points, with seven stocks rising, seven falling and one maintaining its price (Ibersol at €9.72).
Galp announced today that it had a profit of €565 million through June, down 9% from the same period last year, reflecting the concentration of maintenance shutdowns in the first quarter. The oil company released a statement today, announcing that Galp’s adjusted net income rose 25% to €373 million in the second quarter of the year, “supported by increased oil and natural gas production in Brazil and strong performance in product trading on international markets”.
Following the improvements in the second quarter, Galp revised its oil and natural gas production estimate for the year upwards to between 105,000 and 110,000 barrels per day, and its EBITDA estimate to €2.7 billion. Investors saw Galp’s shares followed by those of EDP, Sonae and Navigator, which rose 0.80% to €3.78, 0.78% to €1.29 and 0.62% to €3.24.
More moderately, shares in EDP Renováveis, Semapa and Corticeira Amorim rose 0.60% to €10.07, 0.46% to €17.44 and 0.40% to €7.60. In contrast, shares in CTT, BCP and Jerónimo Martins fell 1.04% to €7.59, 1.01% to €0.67 and 0.63% to €22.12.
Shares in REN, NOS and Mota-Engil fell 0.16% to €3.17, 0.13% to €3.82 and 0.05% to €4.24.
The main European stock markets opened lower today, focused on the European Central Bank (ECB) meeting on Thursday, where interest rates are expected to remain at 2%, as well as on corporate results.
Investors are eagerly awaiting this week’s ECB monetary policy meeting, which is expected to keep rates unchanged, so attention will be focused on whether ECB President Christine Lagarde will give any clues about the next steps. Markets will also be watching for the release of preliminary PMI estimates, which provide an overview of activity in the manufacturing and services sectors, and US President Donald Trump’s announcement of 30% tariffs on imports from the eurozone to the US, although the impact is likely to be limited.
Germany’s GfK consumer confidence index will also come out this week on Thursday, while the Ifo economic confidence index will come out on Friday, along with consumer and business confidence data for Italy and France.
Meanwhile, today, German Chancellor Friedrich Merz is meeting with business leaders from several large companies, such as Deutsche Bank and Siemens, who have launched the “Made for Germany” initiative to invest millions in modernising facilities and developing new products, with the aim of reviving the German economy. Wall Street futures advanced with moderate gains of around 0.25% after the Wall Street stock market closed mixed on Friday.
Brent crude oil, the benchmark in Europe, for September delivery is retreating to $69.17, against $69.28 on Friday.
Gold per troy ounce, a safe-haven asset, was up to $3,366.50, compared to $3,349.94 on Friday and the current all-time high of $3,432.34 on 13 June.
The euro rose to $1.1617 dollars on the Frankfurt currency market, compared to $1.1626 dollars on Friday and a new high since 15 September 2021 of $1.1789 dollars on 2 July.
MC/ADB // ADB.
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