Lisbon, April 22, 2025 (Lusa) - The Lisbon stock market was trading higher on Tuesday morning, with Jerónimo Martins shares rising 3.25% to €21.62 and NOS shares falling 10.09% to €3.70.
At around 9.40 a.m. in Lisbon, the benchmark PSI (Portuguese Stock Market Index) had reversed its opening trend and was advancing 0.22% to 6,749.80 points, with eight shares rising, six falling and one remaining unchanged (Ibersol at €8.94).
Jerónimo Martins' shares were followed by those of CTT, BCP and EDP, which were up 1.97% to €7.26, 1.53% to €0.54 and 1.04% to €3.30.
More moderately, shares in Sonae, REN and Altri were up 0.97% to €1.05, 0.53% to €2.86 and 0.18% to €6.19.
Semapa shares were rising 0.13% to €15.75.
In the opposite direction, after NOS shares, Mota-Engil, EDP Renováveis and Corticeira Amorim were falling the most, 1.41% to €3.21, 1.24% to €7.55 and 0.68% to €7.31.
Shares in Navigator and Galp were down 0.12% to €3.24 and 0.04% to €13.48.
The main European stock markets, closed since Thursday, reopened mixed today, concerned about US President Donald Trump's criticism of Federal Reserve (Fed) chairman Jerome Powell.
The euro was weaker, but at US$1.1493 on the Frankfurt exchange, compared to US$1.1509 on Monday, a new high since 12 November 2021.
US President Donald Trump's criticism of US Federal Reserve Chairman Jerome Powell for being unwilling to lower interest rates is generating statements in support of the Fed's independence, including from Chicago Fed President Austan Goolsbee, who says that questioning the independence of monetary policy would damage the institution's credibility and generate negative effects on growth, employment and inflation.
In the same vein, the French minister of finance, Eric Lombard, warns that firing Powell (whose term ends in May 2026) could damage the US dollar's credibility, in addition to the effect already caused by tariffs, cause an increase in the cost of debt and destabilise the American economy.
In the United States, Tesla's first quarter results will be presented today, against a backdrop of a fall in its stock market value, which fell by almost 6% on Monday, and its bad image due to the political activities of its CEO, Elon Musk.
In the Eurozone, preliminary consumer confidence for April will be released this session, and in Spain the trade balance for February will be published.
Meanwhile, the US dollar fell against the Japanese yen to its lowest level since last September.
On the other side of the Atlantic, Wall Street closed Monday down by more than 2%, after US President Donald Trump attacked Fed Chairman Jerome Powell, whose resignation he called for last week, on his social network Truth Social, and urged him to lower interest rates to avoid a slowdown in the economy, in addition to the trade war unleashed against China.
The price of an ounce of gold, a safe haven asset, continues to climb, rising to US$3,470.71, a new all-time high, against US$3,414.65 on Monday.
The yield on Germany's 10-year bond, considered the safest in Europe, fell to 2.777%, down from 2.801 % in the previous session.
The price of Brent oil for June delivery, the benchmark in Europe, advanced to US$66.88, up from US$66.26 on Monday.
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