Lisbon, July 19, 2024 (Lusa) - The Lisbon stock market was trading lower on Friday morning, with 11 of the constituent shares of the benchmark PSI (Portugal Stock Index) down, led by Sonae, which fell 1.08% to €0.92.
At around 9.20 a.m. in Lisbon, the PSI maintained its opening trend and was down 0.26% to 6,771.43 points, with 11 shares falling, four rising and one maintaining its price (Ibersol at €7.16).
Sonae's shares were followed by those of Semapa, EDP and CTT, which fell 0.92% to €15.10, 0.80% to €13.66 and 0.67% to €4.47.
Shares in Corticeira Amorim, EDP and Jerónimo Martins were down 0.62% to €9.56, 0.52% to €3.62 and 0.46% to €19.59.
REN, Navigator and BCP shares were also down 0.42% to €2.35, 0.41% to €3.84 and 0.28% to €0.39.
Mota-Engil shares fell 0.23% to €3.52.
On the other hand, NOS and Galp shares rose 0.70% to €3.58 and 0.29% to €18.97.
The other two shares that were up were BCP and Mota-Engil, which gained 0.28% to €0.39 and 0.23% to €3.52.
The main European stock markets were down today, following investors' doubts about future interest rate cuts by the European Central Bank, which on Thursday held benchark lending rates unchanged. In her comments, ECB President Christine Lagarde did not clarify what will happen at the next meeting in September, saying that everything depends on the data that comes out.
In the meantime, the markets continue to weigh future decisions on interest rates, after the ECB maintained rates on Thursday, sending a message that future rate cuts, after the one in June, will depend on current economic data, underlying inflation trends and the effectiveness of monetary policy.
Wall Street closed in negative territory on Thursday, on a day marked by investor profit-taking ahead of a change in the monetary policy cycle by the US Federal Reserve and, eventually, the US government.
A barrel of Brent oil for September delivery opened lower today, at $84.58 on London's Intercontinental Exchange Futures (ICE), compared to $84.58 on Thursday.
On the foreign exchange market, the euro opened weaker on the Frankfurt exchange, at $1.0884, compared to $1.0916 in the previous session.
MC/ARO // ARO.
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