Lisbon, Oct. 17, 2024 (Lusa) - The Lisbon stock market reversed its opening trend on Thursday morning and was trading down on the previous session's close, with shares in pulp and paper company Navigator falling 0.91% to €3.69.
At around 8.55 a.m. in Lisbon, the benchmark PSI (Portugal Stock Index) was down 0.17% to 6,738.55 points, with 11 shares falling, four rising and one maintaining its price (Ibersol at 7.26 euros).
Navigator's shares were followed by those of Mota-Engil, NOS and Galp, which fell 0.61% to €2.60, 0.54% to €3.65 and 0.39% to €16.80.
Altri, Greenvolt and CTT shares fell 0.29% to €5.14, 0.24% to €8.31 and 0.23% to €4.32.
Corticeira Amorim shares fell 0.22% to €8.88, while Sonae and REN both fell 0.21% to €0.94 and €2.41.
The other shares to fall were those of Semapa, down 0.14% to €14.78.
On the other hand, Jerónimo Martins and EDP shares rose 0.23% to €17.48 and 0.20% to €3.95.
More moderately, shares in BCP and EDP Renováveis rose 0.16% to €0.43 and 0.14% to €14.34.
The main European stock markets were up on Thursday, anticipating a second consecutive cut in the European Central Bank's benchmark interest rate.
Analysts at Link Securities quoted by Spanish news agency Efe, who were expecting a cautious opening in Europe, believe that the reaction of investors to what the ECB "does and says" and the analysis of retail sales figures in the US will be the factors that determine the closing trend of the stock markets on Thursday.
On the other side of the Atlantic, Wall Street also ended mostly green on Wednesday, boosted by positive quarterly results from large companies such as Morgan Stanley and United Airlines.
The Dow Jones index ended up 0.79% to 43,077.70 points, a new high since it was created in 1896, and the Nasdaq advanced 0.28% to 18,367.08 points, against the high of 18,647.45 points seen on 10 July.
In Asia, however, the main markets recorded widespread losses on a day when China announced new measures, this time relating to the property market.
A barrel of Brent oil for December delivery opened lower on Thursday, at $74.15 on London's Intercontinental Exchange Futures (ICE), compared to $74.22 on Wednesday.
On the foreign exchange market, the euro opened weaker at $1.0852 on the Frankfurt exchange, compared to $1.0868 on Wednesday.
MC/ARO // ARO.
Lusa
