Lisbon, May 11, 2026 (Lusa) – The Lisbon stock market traded higher on Monday morning as 13 of 16 companies on the PSI (Portugal Stock Index) rose, with EDP and EDP Renováveis leading the gains, rising 2.76% to €4.43 and 2.22% to €14.27, respectively.
Around 9:20 a.m., the PSI followed the opening trend and rose 0.71% to 9,131.94 points.
While 13 companies rose, three fell: Sonae dropped 2.89% to €1.88, Mota-Engil lost 0.46% to €4.99, and Jeronimo Martins slipped 0.32% to €18.66.
EDP said on Friday it had signed a 30-year renewal for the energy distribution concession in 28 districts in São Paulo state, Brazil.
The company expects to invest 5 billion reais (€866 million) by 2030.
Planned investments in the concession area represent an increase of about 30% compared to the period between 2019 and 2024, Portugal’s energy company, EDP, said.
Shares in Corticeira Amorim and Navigator followed EDP's gains, rising 1.71% to €7.12 and 1.47% to €3.32, respectively.
Ibersol and Altri rose 1.01% to €11.98 and €5.02.
BCP, CTT, and Galp saw more moderate gains, rising 0.97% to €0.94, 0.95% to €6.36, and 0.89% to €19.22.
Semapa and Teixeira Duarte gained 0.63% to €23.80 and 0.59% to €0.43.
Other rising shares included REN (up 0.28% to €3.62) and NOS (up 0.19% to €5.28).
The main European bourses opened slightly lower on Monday while oil prices rose.
This followed Tehran's response to the latest US proposal, which again pushed back expectations for a short-term peace deal.
The euro was slightly weaker, falling 0.15% to $1.1769 in the Frankfurt currency market.
Dow Jones and Nasdaq futures pointed to declines of 0.11% and 0.07% at 8:30 a.m. in Lisbon.
Brent crude for July delivery, the European benchmark, rose 3.49% to $104.83 at the market opening.
Analysts at Renta4 said Iran's response to the US 14-point proposal, delivered on Sunday night, rejects almost all of Washington's memorandum.
The proposal suggested a ceasefire, the gradual reopening of the Strait of Hormuz, and nuclear negotiations.
Analysts at Renta4 described the 10-point response as a declaration of regional sovereignty rather than a constructive counteroffer.
U.S. President Donald Trump said he disliked the response but did not set a new deadline or threaten to resume hostilities.
Negotiations may remain open, and China could play a relevant role during Trump’s visit to the country this week.
Renta4 analysts said a confidential CIA analysis leaked to the press could be behind Iran's response.
The analysis claims Iran can resist a US naval blockade for at least three or four months before facing serious economic difficulties.
MC/LYT // ADB.
Lusa
