Lisbon, July 29, 2025 (Lusa) - The Lisbon stock market was trading lower on Tuesday morning, with CTT shares falling 4.89% to €7.19, after the company announced an 11.7% increase in profits in the first half of the year.
At around 9:30 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was keeping its opening trend and falling 0.32% to 7,645.73 points, with eight stocks down, six up and one unchanged (Jerónimo Martins at €21.36).
On Monday, CTT announced that its net profit grew 11.7% in the first six months of this year, compared to the same period in 2024, to €22.1 million.
Between January and June, operating income reached €597.3 million, a year-on-year increase of 13.9%.
CTT shares were followed by EDP Renováveis, Sonae and EDP, which were down 0.87% to €10.21, 0.80% to €1.24 and 0.70% to €3.80.
More moderately, REN, Altri and Galp shares were falling 0.33% to €2.99, 0.31% to €4.82 and 0.15% to €16.85.
NOS shares were off 0.14% to €3.61.
In contrast, Mota-Engil, Ibersol and Corticeira Amorim shares were rising 0.93% to €4.36, 0.84% to €9.66 and 0.53% to €7.62.
Shares in Navigator, Semapa and BCP were also on the rise, namely 0.45% to €3.12, 0.23% to €17.50 and 0.03% to €0.68.
The main European stock markets opened slightly higher today in response to an EU-US trade agreement that they consider unsatisfactory and with their eyes already on the Federal Reserve (Fed) interest rate meeting.
After initially reacting on Monday with gains of around 1% to the agreement between the EU and the US (which provides for a 15% tax on European products imported by the United States, instead of a 30% tax that President Donald Trump had threatened if a consensus was not reached before 1 August), the markets subsequently lost momentum as they realised the concessions made by the EU.
Today, the markets opted for a slight upward opening, waiting for the details of the agreement to become more concrete and its implications to become clearer.
As specified by European Commission President Ursula von der Leyen, the 15% tax will apply to key sectors such as cars, semiconductors and pharmaceuticals, and will cover EU purchases of energy and military equipment from the US.
In addition to the EU and the US, international trade policy continues with tariff negotiations between the US and China in Stockholm, attended by US Treasury Secretary Scott Bessent and Chinese Deputy Prime Minister He Lifeng, two weeks before the end of the 90-day trade truce agreed between the two economies, which Washington is proposing to extend.
Wall Street closed on Monday in mixed territory.
Meanwhile, the US Fed begins a new two-day meeting on interest rates today, with more pressure than ever from President Donald Trump on Fed Chairman Jerome Powell to “do the right thing” and cut rates.
The Fed's decision on interest rates will be announced on Wednesday and the Bank of Japan's (BOJ) on Thursday.
Brent crude oil, the European benchmark, for September delivery is retreating to US$70.03, compared to US$70.04 on Monday.
The euro was weaker, falling to US$1.1535 on the Frankfurt currency market, against US$1.1599 on Monday and a new high since 15 September 2021 of US$1.1789 on 2 July.
MC/AYLS // AYLS
Lusa
