European stock markets buoyed by prospects of trade deals. PSI rises despite CTT's fall
This is a positive morning for European stock markets, which has seen the German DAX index reach its highest level ever (+0.84% to 23,502.3 points), highlights the market analyst at Millennium investment banking.
The Stoxx 600 advanced 0.57% and the Euro Stoxx 50 gained 0.51%. In the main markets, green dominated, with the FTSE 100 appreciating 0.52%; the CAC 40 growing 0.79%; the FTSE MIB rising 0.76%; the AEX advancing 0.62%; the IBEX with gains of 0.32% and the PSI appreciating 0.21%. This despite the fall in Lisbon of CTT shares, which fell -12.31% to 6.77 euros, after investors were disappointed with the postal company's first quarter results.
CTT is slipping in response to a major drop in profits. REN also reported results and is highlighting its final dividend. Navigator disappointed across the board and is still down -1.66%.
Unlike its index partners, EDP, which presented its quarterly profits today, did not disappoint and rose on the stock market by +4.45%. EDP Renewables also stood out at this time, in the middle of the session, with an appreciation of +2.84%. Mota-Engil helped the PSI by rising by +2.50% and Galp also rose by +1.42%.
“The prospects for trade agreements left yesterday by Donald Trump, already with an announcement of an understanding with the United Kingdom, are encouraging investors. This morning, the very robust indication for China’s trade balance arrived, which showed surprising growth in exports and a very slight decline in imports, where analysts had predicted a 6% drop. The contraction in exports to the US was offset by exports to other geographies, including Europe. Portugal is one of today’s highlights, with a response to multiple corporate accounts. On the positive side, it is worth noting the surge in EDP in reaction to results, which is even among the day’s major European gainers”, says the MTrader analyst.
In other markets, the price of a barrel of Brent is rising 1.94% to $64.06.
The euro appreciated 0.19% to 1.1249 dollars.
jornaleconomico
