Lisbon is closing in on the green with a good wind coming in from the US. Cycling is at its highest level in 4 years
The Portuguese stock exchange followed the optimism that prevailed in the main European markets after inflation fell in June in the United States to 3%, in a sign that the more stringent monetary policy pursued by the Federal Reserve is having an effect.
The Lisbon Stock Exchange added on Wednesday to the fourth consecutive session in the green, moved by inflation data in June in the United States, which fell to 3%, indicating that the policy of raising interest rates by the Federal Reserve (Fed) has an impact.
The PSI advanced 0.95% to 5,980.54 points, with 13 points up and only three in the red.
BCP led the gains, rising 2.66% to €0.2277, after Mediabanca made an upward adjustment to the “target” and recommendation of shares of the bank led by Miguel Maya.
Also with a strong rally, Greenvolt advanced 2.61%, to 6.11 euros, after BNP Paribas Exane raised the recommendation and price target – from 7.5 euros to 8 euros – for the company led by Manso Grandshield.
Giving strength to the index were also heavyweights such as EDP Renováveis, Galp, Jerónimo Martins and EDP.
The share of the “green arm” of EDP increased 1.63% to 17.755 euros, while the oil company rose 0.69% to 10.985 euros, benefiting from the rise in crude oil prices by more than 1% in global markets.
For its part, Pingo Doce advanced by 0.63%, to close at 25.68 euros, while EDP, which announced this morning to the market that it had concluded an OPA agreement on EDP Brasil, and captured about 88% of the company’s market, estimated by 0.39%, to close at 4.34 euros.
Also of note is Mota-Engil, which rose by 0.66% to €2.3, the highest closing value since the beginning of May 2019.
On the negative side, Ibersol shares lost 0.88%, to 6.74 euros, while Semapa lost 0.31%, to 12.96 euros, and REN declined by 0.2%, to end the day at 2.465 euros.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.