Lisbon, June 4, 2025 (Lusa) - The Lisbon stock market reversed the opening trend and was trading lower on Wednesday morning, with Jerónimo Martins shares leading the losses, falling 1% to €21.68.
At around 09:25 in Lisbon, the PSI reversed the opening trend and fell 0.21% to 7,443.41 points, with seven stocks falling, seven rising, and one maintaining its price (Altri at €5.25).
On Tuesday, the PSI ended the session at 7,456.30 points, a new high since June 2014.
Jerónimo Martins shares were followed by BCP, Mota-Engil and Galp, which fell 0.74% to €0.67, 0.66% to €4.50 and 0.44% to €14.62.
More moderately, CTT, REN and Sonae shares fell 0.40% to €7.49, 0.34% to €2.95 and 0.16% to €1.25. In contrast, NOS and EDP Renováveis shares rose 0.52% to €3.88 and 0.50% to €9.13, while Navigator and Semapa shares both rose 0.23% to €3.44 and €17.36. Following the same trend, shares in Ibersol, Corticeira Amorim and EDP rose 0.20% to €9.94, 0.13% to €7.70 and 0.11% to €3.56.
The main European stock markets opened higher today, despite the entry into force of new US tariffs on steel and aluminium, which doubled to 50% worldwide, except for the United Kingdom.
Today, the United States is raising tariffs on steel and aluminium from 25% to 50%, amid uncertainty surrounding Washington's negotiations with China and the European Union (EU) to reach agreements that will end the trade war.
On Tuesday, US President Donald Trump exempted the United Kingdom from the global tariff increase.
The executive order, which adjusts the rates on both metals, deemed it necessary to allow the implementation of the bilateral agreement signed with London on 8 May and, consequently, to treat the country differently.
Today's agenda includes the European Semester spring package presented by the European Commission (EC), in which it analyses the implementation of Member States' fiscal plans, issues economic recommendations for all countries and reviews the implementation of their national recovery plans.
Markets remain on hold for Thursday's decision by the European Central Bank (ECB) on interest rates, which are expected to fall by a quarter of a point again.
Market futures on Wall Street are stable, with the Dow Jones Industrials and S&P 500 up 0.04% and 0.05%, and the Nasdaq down 0.01%, after all three indices closed in positive territory on Tuesday, with gains of less than 1%.
Gold per troy ounce, a safe-haven asset, was up to $3,363.21, compared to $3,348.53 on Tuesday and the current all-time high of $3,414.65, recorded on 21 April.
The price of Brent crude oil for August delivery, the benchmark in Europe, fell 0.27% to $65.57 per barrel, compared to $65.63 on Tuesday, due to OPEC+'s decision to increase production in July, as well as increased tensions in the Russia-Ukraine war and the Iran-US nuclear negotiations.
The euro was trading at $1.1394 on the Frankfurt currency market, compared with $1.1373 on Tuesday and $1.1509 on 21 April, a new high since 12 November 2021.
MC/ADB // ADB.
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