PSI continues to trade higher with Mota-Engil rising 2.55%
The Lisbon stock exchange was trading higher today, with Mota-Engil shares leading the gains, rising 2.55% to 4.18 euros.
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Economia bolsa
Around 9:20am in Lisbon, the PSI maintained the opening trend and advanced 0.15% to 6,948.41 points, with seven 'stocks' rising, six falling and three maintaining their price (Ibersol at 7.42 euros, Greenvolt at 8.30 euros and REN at 2.45 euros).
Mota-Engil shares were followed by those of CTT, BCP and EDP Renováveis, which recorded gains of 1.59% to 4.46 euros, 0.59% to 0.36 euros and 0.41% to 14.79 euros.
EDP, Semapa and Navigator shares also rose, namely 0.27% to 3.76 euros, 0.12% to 16.16 euros and 0.10% to 4.09 euros.
On the other hand, Sonae, Corticeira Amorim and Galp shares fell 0.72% to 0.96 euros, 0.52% to 9.64 euros and 0.45% to 19.91 euros.
The other three shares that fell were NOS, Altri and Jerónimo Martins, which recorded losses of 0.30% to 3.35 euros, 0.29% to 5.23 euros and 0.10% to 20.64 euros.
The main European stock exchanges were mixed today, in a session in which the market recovers the references from the Wall Street and London stock exchanges - which were closed on Monday due to the Memorial Day and Spring Bank Holiday holidays, respectively - and awaits the inflation expectations of the European Central Bank (ECB).
Futures on the main indicators of the Wall Street stock exchange point to a high opening.
Today, the ECB's inflation expectations and the Conference Board's consumer confidence in the US will be released, where statements from several members of the Federal Reserve (Fed) are also expected.
In the meantime, the market awaits the release of important data on Thursday, such as inflation in Spain in May and Gross Domestic Product (GDP) in the first quarter in the US, while on Friday the CPI data for the eurozone and personal consumption expenditure (PCE) for April in the US will be announced.
The data on inflation will be fundamental for the monetary policy decisions of the central banks, including the ECB, which meets on 6 June, when it is expected to cut interest rates.
The market is also awaiting the OPEC+ meeting on Sunday, where production cuts are expected to be extended until the second half of the year, according to analysts from Renta4 quoted by Efe.
The barrel of Brent oil for delivery in July opened today in decline, trading at 83.03 dollars on the Intercontinental Exchange Futures (ICE) in London, against 83.10 dollars on Monday.
The interest on the 10-year German bond, considered the safest in Europe, advanced to 2.544%, against 2.546% on Monday.
In terms of exchange rates, the euro opened higher on the Frankfurt foreign exchange market, trading at 1.0875 dollars, against 1.0860 dollars in the previous session.
Read Also: Lisbon Stock Exchange opens up 0.08% (Portuguese version)
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