Lisbon, July 23, 2026 (Lusa) - The Lisbon stock market was trading higher on Thursday morning, with Galp and Sonae leading the gains, rising by 1.73% to €20.56 and 1.71% to €2.08 respectively.
At around 10am in Lisbon, the benchmark PSI (Portuguese Stock Index) was holding onto its opening gains and was up 0.37% to 9,312.19 points, with nine companies rising and seven falling.
Galp and Sonae shares were followed by those of NOS, EDP and Altri, which rose by 0.57% to €4.95, 0.50% to €4.63 and 0.43% to €4.70 respectively.
REN and EDP Renewables also rose, by 0.41% to €3.71 and 0.28% to €14.19 respectively, whilst the other two companies to rise were Jerónimo Martins (0.18% to €17.09) and BCP (0.09% to €1.06).
Conversely, CTT, Navigator and Semapa fell by 2.01% to €6.09, 1.50% to €3.16 and 1.44% to €20.50 respectively.
The other three companies seeing their share prices fall were Ibersol, down 0.75% to €9.31, Teixeira Duarte (-0.30% to €0.49) and Mota-Engil (-0.13% to €4.72).
In Europe, the main stock markets opened lower today, affected by further rises in oil prices – with Brent crude above US$97 – and with attention focused on the ECB meeting, which is expected to keep the key policy rate at 2.25%.
The euro is 0.04% stronger against the dollar and is trading at $1.1417 on the Frankfurt foreign exchange market.
In this session, the price of Brent crude is once again rising by almost 4% due to the resurgence of the war in Iran.
Iran's Revolutionary Guard has reiterated that the attacks in the Middle East are in response to the US offensive against Iran and are not intended to target «brothers» in neighbouring, predominantly Muslim nations that maintain close ties with Washington.
In the early hours of this morning, Washington marked the twelfth day of its offensive against the Islamic Republic, with numerous attacks that left at least two people dead and a further eleven injured in a province near the border with Iraq, according to Iranian reports.
After Washington and Tehran signed a memorandum of understanding in June to establish a ceasefire, reopen the Strait of Hormuz and pave the way for negotiations on Iran's nuclear programme, US President Donald Trump declared the truce over two weeks ago, claiming that Iran was in breach of the agreement, and since then the US has stepped up attacks against the Islamic Republic, which has responded with air strikes against Gulf nations allied with the White House, such as Kuwait, Bahrain, Jordan and Qatar.
The price of Brent crude, the European benchmark, for September delivery, has risen by 3.83% to $97.67.
As regards the ECB's decision on interest rates – which is widely expected to keep them at 2.25% – attention is focused on whether the institution will signal the possibility of future rises, with the market continuing to bet that it will approve a 25-basis-point increase in September, as it did in June.
MC/AYLS // AYLS
Lusa
