Lisbon, May 16, 2025 (Lusa) - The Lisbon stock market was trading higher on Friday morning, with the PSI rising to new highs of almost 11 years and 13 of the 15 stocks gaining value, led by Altri, which rose 2.12% to €6.27.
At around 09:25 in Lisbon, the PSI maintained its opening trend and rose 0.53% to 7,229.60 points, with 13 stocks rising and two falling (Mota-Engil, -0.67% to €4.12, and Semapa, -0.66% to €18.08).
Altri announced on Wednesday that it had completed the purchase of Galician forestry company Greenalia Forest and Greenalia Logistics from Smarttia, which was a ‘strategic step’ in consolidating its presence in Galicia.
Altri's subsidiary in Spain, Greenfiber, has a project for a paper pulp factory in Palas de Rei, Galicia, which is causing strong local opposition. The Spanish government has already announced that this investment will not receive European funds, as requested by the company, which has already said it will appeal this decision.
Altri shares were followed by EDP Renováveis, CTT and EDP, which rose 1.70% to €9.27, 1.36% to €6.78 and 0.99% to €3.46.
More moderately, shares in Corticeira Amorim, REN and Ibersol rose 0.73% to €8.32, 0.72% to €2.81 and 0.66% to €9.16. Shares in Sonae, NOS and Navigator rose 0.54% to €1.12, 0.27% to €3.71 and 0.23% to €3.53. Also rising were BCP and Jerónimo Martins shares, both up 0.19% to €0.63 and €21.26, and Galp, which advanced 0.04% to €14.07.
The main European stock markets opened moderately higher today, pending peace talks for Ukraine and trade negotiations, particularly with the EU, which is reviewing its proposals to reach a favourable agreement with Washington.
Investors are watching today's peace talks between Russia and Ukraine, with delegations from both countries expected to meet in Istanbul, under Turkish mediation, to seek a negotiated end to the war triggered by Russia's invasion of Ukraine.
According to sources at the Turkish Foreign Ministry, these negotiations will be the first contact between Kyiv and Moscow since 2022.
At this time, the futures of the three New York indices point to moderate losses of less than 0.25% in all three indices, after Wall Street closed on Thursday on mixed ground, in a period marked by the agreement between the US and China to reduce reciprocal tariffs.
On Thursday, US Federal Reserve Chairman Jerome Powell said that keeping rates higher for longer may be necessary because economic conditions have changed significantly over the past five years.
Oil prices moderated today after the sharp drop in the previous session. This followed the International Energy Agency report, which warned of lower oil demand for the rest of the year, citing uncertainties in economic growth and record sales of electric vehicles.
The price of Brent crude oil for July delivery, the benchmark in Europe, fell 0.17% to $64.45 per barrel, compared to $64.53 on Thursday.
The euro was stronger at $1.1208 on the Frankfurt currency market, compared with $1.1181 on Thursday and $1.1509 on 21 April, a new high since 12 November 2021.
MC/ADB // ADB.
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