Lisbon, Oct. 11, 2024 (Lusa) - The Lisbon stock market was trading higher on Friday morning, with shares in CTT and BCP leading the gainerss, rising 0.59% to €4.24 and 0.57% to €0.42 respectively.
At around 9.05 a.m. in Lisbon, the PSI had regained all its early losses and was up 0.26% on Thursday's close at 6,703.67 points, with six shares rising, five falling and three remaining unchanged (Ibersol at €7.24, NOS at €3.57 and Semapa at €15.00).
CTT and BCP shares were followed by Galp and EDP, which rose 0.36% to €16.96 and 0.26% to €3.87, as well as REN and EDP Renováveis, which both rose 0.21% to €2.39 and €14.36.
In the same trend, shares in Navigator and Jerónimo Martins advanced 0.11% to €3.75 and 0.06% to €17.27.
In the opposite direction, shares in Altri, Mota-Engil and Corticeira Amorim fell 0.97% to €5.11, 0.47% to €2.52 and 0.34% to €8.75.
The other two shares to fall were Sonae and Greenvolt, which fell 0.31% to €0.95 and 0.06% to €8.30.
The main European stock markets were down today, on a day when the US quarterly results season kicks off and when Germany's final CPI (inflation) for September will also be released.
In Europe, Germany's final consumer price index for September is to be released on Friday; meanwhile it was announced that the UK's Gross Domestic Product grew by 0.2% in August, after two months of stagnation.
In the US, investors will be paying attention to the start of the third quarter results season, with the accounts of JP Morgan and Wells Fargo.
The September producer price index and the University of Michigan confidence index are also due out on Friday.
The stock markets were following the trend of Wall Street, which on Thursday was dragged down by September's US inflation figures, which were worse than expected by analysts. The year-on-year inflation rate slowed to 2.4% in September, down from 2.5% in August.
In the aftermath, the president of the Federal Reserve Bank of Atlanta, Raphael Bostic, said he was in favour of there being no further cuts in benchmark lending rates in November.
Brent crude, which rose by more than 3% on Thursday due to Hurricane Milton and the Middle East crisis, was falling on Friday. The price of a barrel of Brent for December delivery opened lower, at $78.38 on London's Intercontinental Exchange Futures (ICE), compared to $79.40 on Thursday.
In the currency markets, the euro opened stronger, at $1.0937 on the Frankfurt exchange, compared to $1.0906 on Thursday.
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