Lisbon, Nov. 29, 2024 (Lusa) — The Lisbon stock market was trading lower on Friday, with 11 PSI shares falling, led by EDP, which fell 1.10% to €3.41.
At around 9.30 a.m. in Lisbon, the PSI was down 0.45% to 6,401.67 points, with 11 shares falling, two rising and two remaining unchanged (Ibersol at €7.46 and REN at €2.45).
EDP's shares were followed by those of Navigator, Semapa and BCP, which fell 0.87% to €3.43, 0.72% to €13.80 and 0.60% to €0.44.
Galp and Altri shares fell 0.55% to €15.49 and 0.46% to €4.98, while CTT and EDP Renováveis both dropped 0.45% to €4.43 and €11.12.
More moderately, shares in NOS, Mota-Engil and Jerónimo Martins fell 0.43% to €11.12, 0.31% to €2.57 and 0.05% to €18.37.
On the other hand, shares in Sonae and Corticeira Amorim were up 0.53% to €0.94 and 0.24% to €8.39.
The main European stock markets were down today, pending inflation data from the eurozone, Italy and France, as well as the political situation in the latter country, on a day when Wall Street is trading for half a session due to Black Friday.
After learning on Thursday that year-on-year inflation in November in Spain and Germany rose by six tenths to 2.4% and two tenths to 2.2% respectively, investors are awaiting more inflation data from several European countries today.
Investors are also concerned about the political situation in France, where no agreement has been reached to proceed with the 2025 State Budget. Due to political instability, interest rates on French debt reached historic levels in 2012. This is coupled with the situation in Germany, where early elections are due to be held on 23 February 2025.
The French government is prepared to make concessions to opposition groups in the State Budget being discussed in Parliament to avoid a motion of censure in the coming days.
At the opening of the session, without Thursday's Wall Street reference, which was closed due to Thanksgiving, the Nikkei index, the main indicator for the Tokyo stock exchange, closed down by 0.37% in Asia.
In other markets, gold is up 0.69%, and the price per ounce is trading at $2,683.30, as is oil, which is also down in both Europe and the US.
As a result, a barrel of Brent oil for delivery in January 2025 opened lower today, at $72.77 on London's Intercontinental Exchange Futures (ICE), compared to $73.28 on Thursday.
US benchmark West Texas Intermediate (WTI) oil was also down, 0.28% to $68.54, before the market opened.
On Thursday, the Organisation of Petroleum Exporting Countries (OPEC) announced that the meeting at which the oil group and 10 other producing countries, including Russia, were going to analyse the possibility of increasing oil production this Sunday has been postponed until 5 December.
In a brief statement, OPEC explained that the change of date is because several ministers taking part in the meeting will attend a summit of Gulf countries in Kuwait on Sunday.
The euro opened stronger at $1.0570 on the Frankfurt exchange, compared to $1.0553 on Thursday and $1.0418 on 22 November, a low since 1 December 2022.
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