The PSI index closed the session down 1.52%, at 9,380.30 points, following the negative trend of the main European stock exchanges, which were dragged by the technology sector and stocks linked to artificial intelligence, after leaders of the largest companies in the sector proposed slowing the pace of technological development. Among the Portuguese listed companies, EDP Renováveis was the biggest loser, with a decline of 5.91%, followed by EDP with 3.82% and Mota-Engil with 3.46%. On the gains side, Sonae, NOS SGPS, Corticeira Amorim and Galp Energia stood out.
Pressure on the markets was further aggravated by the surge in oil prices, after Saudi Arabia shut down an important pipeline following an attack. WTI crude rose 2.80% to $102.85 per barrel and Brent rose 2.62% to $107.35 per barrel. This context of geopolitical tension fueled fears of inflation acceleration and new interest rate hikes. In Portugal, Jerónimo Martins was fined by the Polish competition regulator, a decision the retailer has already announced it will contest.
Among the main European stock exchanges, the FTSE MIB in Milan fell the most with a decline of 1.68%, followed by the IBEX 35 in Madrid with 1.38%, the CAC 40 in Paris with 0.76% and the DAX in Frankfurt with 0.50%. The FTSE 100 in London was the exception, closing up 0.44%, benefiting from the larger weight of oil and mining companies in the British index.
The President of the United States, Donald Trump, announced that Ukraine and Russia agreed not to mutually attack each other's energy infrastructure, at a time when the two countries are preparing to face winter in the context of the conflict that has opposed the two countries since the Russian invasion of February 2022. Trump also attributed the rise in diesel prices worldwide mainly to the war between Russia and Ukraine.
