Lisbon, Jan. 21, 2026 (Lusa) - The Lisbon stock market is again trading lower on Wednesday morning, with 13 of the 16 PSI stocks falling, led by civil engineering and construction companies, Teixeira Duarte and Mota-Engil, which are down more than 4.7%.
At around 9:40 a.m. in Lisbon, the benchmark PSI (Portuguese Share Index) was reversing its opening trend and falling 0.43% to 8,427.03 points, with 13 stocks down and three up, after closing at a new high since January 2010 of 8,639.05 points on 16 January.
Teixeira Duarte and Mota-Engil shares were down by 4.86% to €0.55 and 4.77% to €4.51.
These were followed by BCP, Sonae and Ibersol, which were also falling, by 1.51% to €0.87, 1.26% to €1.72 and 0.99% to €10, respectively.
Following the same trend, CTT, Navigator and Semapa shares were down by 0.87% to €6.85, 0.63% to €3.15 and 0.47% to €21.30.
Shares in Corticeira Amorim, Galp and Jerónimo Martins were down 0.30% to €6.71, 0.22% to €16.03 and 0.20% to €20.30.
The other two shares that were below the waterline were REN (-0.15% to €3.27) and NOS (-0.12% to €4.16).
In the opposite direction, EDP Renováveis, Altri and EDP shares were rising by 1.29% to €12.58, 0.46% to €4.37 and 0.41% to €4.12, respectively. The two EDP shares received a broker upgrade on Tuesday.
The main European stock markets opened slightly lower today, with all eyes on US President Donald Trump's speech at the Davos Forum.
European stock markets await Trump's speech today in Davos at 1:30 p.m. Lisbon time, which will focus on the positive evolution of the US economy, although interest is concentrated on the current situation of commercial and geopolitical tension, which could introduce volatility in the markets.
At this time, Wall Street futures are up slightly, with the Nasdaq up 0.38% and the Dow Jones up 0.25%.
In the United Kingdom, the year-on-year inflation rate rose to 3.4% in December, two tenths higher than in November.
In the commodities market, Brent, the benchmark crude oil in Europe, for March delivery, is down 1.31% to US$64, compared to US$64.92 in the previous session, and West Texas Intermediate (WTI), the benchmark in the US, is down 1.25% to US$59.73.
Precious metals are once again acting as a refuge from geopolitical risk, with both gold and silver prices soaring to new all-time highs, with gold exceeding US$4,800 an ounce and silver reaching almost US$95.
The euro is weaker, falling to US$1.1709 on the Frankfurt foreign exchange market, compared to US$1.1732 on Tuesday and the new four-year high of US$1.1865 recorded on 16 September last year.
MC/AYLS // AYLS
Lusa
