Lisbon, July 31, 2024 (Lusa) - The Lisbon stock market was trading higher mid-morning on Wednesday, continuing its trend at the opening, with shares in Jerónimo Martins, owner of the Pingo Doce chain of supermarkets, rising 2.16% to €15.62.
At just before 9 a.m. in Lisbon, the benchmark PSI (Portugal Stock Index) was up 0.62% to 6,680.44 points, with nine shares rising and seven falling.
Jerónimo Martins led the way, beginning to recover from the falls it has seen in recent days after announcing a drop in profits in the first half of this year.
Also advancing was Ibersol, up 1.75% to €6.98, followed by Energias de Portugal (EDP), whose shares rose 1.10% to €3.85. The latter released its results for the first half of the year on Tuesday, posting net profits attributable to shareholders of €762 million, a year-on-year increase of 75%.
Also rising were its separately quoted renewables subsidiary, EDP Renováveis (up 0.84% to €14.48), Galp Energia (up 0.73% to €19.22), Sonae (up 0.33% to €0.92), Semapa (up 0.27% to €14.78), Mota-Engil (up 0.17% to €3.56) and Greenvolt (up 0.12% to €8.32).
Heading in the opposite direction were shares in NOS, down 0.70% to €3.56, Corticeira Amorim, which fell 0.66% to €9.09, CTT, down 0.24% to €4.15, Altri, down 0.24% to €4.99, Navigator, whose shares were down 0.21% to €3.74, REN, down 0.21% to €2.36, and BCP, down 0.08% to €0.39.
European stock markets were on Wednesday morning generally higher, amid expectations for the US Federal Reserve meeting that is drawing to a close, with possible signs of a future interest rate cut.
On Tuesday, the New York Stock Exchange ahd closed flat, with technology stocks in particular suffering from continued investment rotation as investors await the results of the Fed meeting. The Dow Jones Industrial Average had risen 0.50%, while the others ended lower, the Nasdaq by 1.28% and the broader S&P500 by 0.50%.
ALN/ARO // ARO.
Lusa