The Lisbon stock exchange trades in negative territory mid-session, with the PSI down 0.31% to 9,450.88 points, following the negative sentiment of the main European indices. The CAC40 loses 1.72%, the DAX falls 1.48% and the Ibex35 retreats 0.30%. Among the biggest falls in Lisbon are Ibersol with 1.87%, BCP with 1.76%, Mota-Engil with 1.38% and Jerónimo Martins with 1.25%. Conversely, Galp rises 1.19%, Navigator gains 0.50% and EDP adds 0.34%.
Market analyst at Millennium Investment Banking, Ramiro Loureiro, explains that European stock exchanges are constrained by rising oil prices due to worsening geopolitical tensions in the Middle East. Additionally, producer prices in China rose more than expected and core inflation rose for the first time in four months, which generates fears of greater aggressiveness in monetary policies from Central Banks, with the market anticipating a 25 basis point rate hike for the Euro Zone.
In the oil market, WTI gains 2.40% to $95.25 per barrel and Brent rises 2.87% to $100.74. The euro strengthens 0.04% against the dollar, settling at $1.1628. Natural gas recedes 0.96% to $2.888.
On the international scene, the Finnish market stands out positively after Google announced the construction of an artificial intelligence infrastructure valued at at least 13 billion euros, a project promising to create 37,000 jobs. On the negative side, Inditex, owner of Zara, presented results below analyst expectations due to increased operational costs.
