The Lisbon Stock Exchange was mid-session in the red, with the PSI index falling 0.56% to 9,425.23 points, reversing the positive opening. The biggest declines were recorded in EDP Renováveis, which fell 2.54% to 13.42 euros, followed by EDP with a devaluation of 1.19% to 4.66 euros, and by Mota-Engil which broke 0.92% to 4.76 euros. Among the companies in the red were also CTT, Corticeira Amorim, Altri, NOS, Navigator, Galp Energia and Ibersol, while Teixeira Duarte and Jerónimo Martins were trading in positive territory.
The major European stock exchanges were also in the red, with the German DAX falling 0.84% to 25,741.14 points, the French CAC 40 devaluing 0.69% to 8,244.36 points, and the British FTSE 100 breaking 0.63% to 10,721.54 points. The Dutch AEX fell 0.48%, the Spanish IBEX 35 devalued 0.34% and the Italian FTSE MIB fell 0.53%. The stock exchange behavior was influenced by fears of interest rate hikes in September, both in the Eurozone and the United States.
Oil was trading higher, with brent rising 0.49% to $95.11 and crude gaining 0.18% to $90.38. The rise was due to attacks between the United States and Iran, which occurred between Tuesday and Wednesday (September 1 and 2). US Central Command confirmed it had carried out attacks against Iranian military targets, including air defense facilities and radar systems, and Iran responded by attacking American bases in Jordan, Bahrain, Kuwait and Iraq with drones and missiles.
The European currency was falling 0.17% against the dollar to 1.15717 dollars and rising 0.06% against the pound to 1.15717 pounds. Millennium's research noted that European stocks were retreating due to inflation prospects following the resumption of conflicts in the Middle East, which was driving up oil prices and raising the likelihood of further interest rate hikes.
