Lisbon, July 22, 2024 (Lusa) - The Lisbon stock market was trading higher on Monday, with 12 of the constituent shares in the benchmark PSI (Portugal Stock Index) rising, led by CTT, which rose 3.76% to 4.70 euros.
At around 09:25 in Lisbon, the PSI maintained its opening trend and advanced 1.20% to 6,883.89 points, with 12 shares rising, three falling and one remaining unchanged (Corticeira Amorim at 9.58 euros).
CTT shares were followed by EDP Renováveis and EDP, which advanced 2.82% to 14.22 euros and 2.05% to 3.73 euros, while Mota-Engil and Ibersol both rose 1.40% to 7.26 euros and 7.26 euros.
NOS, Galp and BCP shares gained 1.39% to 3.63 euros, 1.04% to 19.02 euros and 0.95% to 0.39 euros.
REN, Altri and Jerónimo Martins shares also rose 0.85% to 2.37 euros, 0.65% to 5.41 euros and 0.61% to 19.93 euros.
Sonae shares fell 0.32% to 0.93 euros.
On the other hand, shares in Navigator, Greenvolt and Semapa fell 0.98% to 3.83 euros, 0.47% to 8.45 euros and 0.13% to 15.14 euros.
The main European stock markets were up today, after the People's Bank of China (PBOC) made a surprise cut in the reference rate and US President Joe Biden withdrew from the race for re-election.
In Monday's session, attention will centre on the 10 basis point cut in the benchmark interest rate announced by surprise by the People's Bank of China (PBOC, the central bank), which will fall from 3.45%, the level it had been at since August last year, to 3.35%.
Added to this was Biden's withdrawal from the race for re-election, announced on Sunday after weeks of growing criticism about the unsuitability of his candidacy, and now all eyes are on who will succeed him.
In this regard, Biden expressed his support on Sunday for Vice President Kamala Harris as the new Democratic candidate for the elections on 5 November.
Wall Street stock market futures are up 0.07% for the Dow Jones, 0.23% for the S&P 500 and 0.32% for the Nasdaq.
Germany's 10-year bond yield, considered the safest in Europe, fell to 2.448% from 2.466% on Friday, as did France's, which fell to 3.115% from 3.133%.
Gold, considered a safe haven asset in times of crisis, rose 0.28% and the price per ounce stood at 2,405 dollars.
A barrel of Brent oil for September delivery opened higher, at 82.96 dollars on London's Intercontinental Exchange Futures (ICE), compared to 82.63 dollars on Friday.
On the foreign exchange market, the euro opened stronger n the Frankfurt exchange market, at 1.0886 dollars, compared to 1.0882 dollars in the previous session.
MC/ARO // ARO.
Lusa