Lisbon, Oct. 29, 2025 (Lusa) - The Lisbon stock market was trading higher on Wednesday, with REN shares leading the gains, rising 2.37% to €3.23.
At around 09:25 in Lisbon, the PSI reversed the opening trend. It advanced 0.22% to 8,367.54 points, with six shares rising, seven falling and three remaining unchanged (Altri at €5.02, Corticeira Amorim at €7.35 and Teixeira Duarte at €0.71).
The PSI ended 24 October at a new high since January 2010, at 8,369.58 points.
Hidroeléctrica de Cahora Bassa (HCB) announced on Wednesday that it will invest $98 million (€84.2 million) to asphalt 117 kilometres of National Road 301 (N301).
The company is a private limited company, 85% owned by the state-owned Companhia Elétrica do Zambeze and 7.5% by Portugal's Redes Energéticas Nacionais (REN). The company holds 3.5% of its own shares, while Mozambican citizens, companies and institutions hold the remaining 4%.
The Cahora Bassa reservoir is the fourth-largest in Africa, employs almost 800 people, and is one of the largest producers of electricity in the southern African region, supplying neighbouring countries.
According to official figures, HCB has paid €1.588 billion to the Mozambican state since 2007.
REN's shares were followed by those of Ibersol, Mota-Engil and NOS, which also rose, namely 0.99% to €10.25, 0.58% to €6.11 and 0.52% to €3.84.
The other two shares that rose were BCP, which is presenting its results today (+0.34% to €0.77) and CTT (+0.14% to €7.32).
On the other hand, shares in Galp, EDP Renováveis and EDP fell 0.78% to €17.07, 0.63% to €12.69 and 0.58% to €4.29.
On Monday, Galp announced that it made a profit of €973 million in the first nine months of the year, 9% more than in the same period in 2024, with a “record” of €407 million in the third quarter (+53%).
In the accounts sent to the Portuguese Securities Market Commission (CMVM), Galp's co-chairmen, Maria João Carioca and João Marques da Silva, emphasised that ‘Galp's solid operational performance continued in the third quarter’, consolidating a ‘solid financial position’ which is ‘reassuring given the current macroeconomic sentiment’.
Sonae and Navigator shares fell 0.42% to €1.43 and 0.40% to €3.01, as did Jerónimo Martins and Semapa, which fell 0.39% to €20.34 and 0.11% to €18.06.
The main European stock markets opened today without a clear trend, in a session marked by the presentation of business results and the US Federal Reserve's (Fed) decision on rates, which is expected to be cut by a quarter of a point.
Many corporate results marked the session, including those from the Spanish bank Santander and the German Deutsche Bank.
The market is also paying special attention to the Fed's decision on rates, which will almost certainly be cut to between 3.75% and 4%. However, the decision will only be known after the European markets have closed, so what the institution's chairman, Jerome Powell, says will only affect Thursday's session.
Brent, Europe's benchmark crude oil for December delivery, is rising to $64.47, up from $64.40 on Tuesday.
The euro was weaker at $1.1625 on the Frankfurt exchange, against $1.1663 on Tuesday and a new four-year high of $1.1865 on 16 September.
MC/ADB // ADB.
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