Lisbon, Jan. 16, 2025 (Lusa) - The Lisbon stock market was trading marginally higher on Thursday morning, with EDP Renováveis shares rising 0.59% to €9.44 and Galp down 0.65% to €16.92.
At around 9.25 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Index) was maintaining its opening trend and was up 0.09% to 6,465.04 points, with seven shares rising, five falling and three remaining unchanged (Corticeira Amorim at €8.07, Ibersol at €7.64 and Semapa at €14.38).
EDP Renováveis shares were followed by CTT, BCP and Navigator, which were rising by 0.57% to €5.33, 0.53% to €0.49 and 0.40% to €3.51.
In the same trend, Jerónimo Martins, Mota-Engil and Sonae shares were up 0.38 % to €18.57, 0.28 % to €2.82 and 0.22 % to €0.91.
In the opposite direction, the shares that were falling the most after Galp were those of EDP and REN, off 0.57 % to €3.11 and 0.43 % to €2.31.
The other two shares to fall were Altri and NOS, down 0.38% to €5.28 and 0.15% to €3.31.
The main European stock markets were trading higher this morning, awaiting the minutes of the latest European Central Bank (ECB) meeting, which will be released today.
In Europe, before the opening bell, it was announced that inflation in Germany had accelerated to 2.2% by 2024 and that the UK economy grew by 0.1% in November, the first increase in three months.
Today, on the other side of the Atlantic, US banks Morgan Stanley and Bank of America will be on the agenda, while on the macroeconomic front the December retail sales figures will be released.
On Wednesday, European stock markets closed in the green after it was reported that US inflation rose moderately in December, reducing the likelihood of the Federal Reserve (Fed) raising interest rates again, and results from some of the big US banks.
On Wednesday, Wall Street closed with all its indicators in the green.
Against a backdrop of economic strength in the US and weakness in Europe, the US dollar has continued to rise although this morning the euro was stronger, quoted at US$1.0298 on the Frankfurt exchange market, compared to US$1.0286 on Wednesday and US$1.0218 on 13 January, a low since 10 November 2022.
The devaluation of the euro against the US dollar has been fuelled by the return of Donald Trump to the White House, who is predicting policies that could increase inflation in the United States.
On the commodities market, Brent crude was falling at US$81.89, compared to US$82.03 on Wednesday, a high since 8 July, despite the ceasefire between Israel and Hamas.
MC/AYLS // AYLS
Lusa