PSI closes in the green, helped by EDP in mixed Europe

The Lisbon stock exchange closed higher this Wednesday, in a session that closed without a defined trend in the main European markets, on the eve of the ECB's monetary policy decision, which is expected to involve maintaining interest rates.

The PSI closed up 0.54% to 7,729.37 points, with EDP rising 1.88% to 3,791 points. EDP Renováveis ​​rose 1.62% to €10.06. This Wednesday, EDPR announced the sale of wind assets in France and Belgium for an enterprise value of €200 million.

Ibersol rose +1.42% to €10.00. Semapa rose +0.79% to €17.94. BCP rose +0.48% to €0.7180.

Navigator, on the contrary, fell -1.03% to 3.262 euros.

Mota-Engil, which has been on a rollercoaster ride in recent days, ended up closing down 0.12% at 4.924 euros.

The construction company soared about 10% on Monday, after winning the bid to build Brazil's first underwater tunnel, only to fall more than 11% the following session. Analysts say this decline was driven by capital gains.

In Europe, the trend was for the Iberians to rise and Germany to fall. The Stoxx 600 fell 0.018% and the EuroStoxx 50 fell 0.14%.

On the main markets, the FTSE 100 fell 0.19% to 9,225.4 points; the CAC 40 rose 0.15% to 7,761.32 points. The DAX fell 0.36% to 23,632.9 points. The FTSE MIB rose 0.12% to 42,059.7 points and the IBEX advanced 1.29% to 15,217.5 points.

"European stock markets closed divided between Iberian gains and German losses" and "the PSI was boosted by the EDP group," reveal MTrader analysts.

The IBEX was catalyzed by the Inditex surge in reaction to the good start to the 3rd quarter.

In France, the CAC ended above the waterline after Emmanuel Macron appointed Sebastien Lecornu as the new prime minister.

"It's natural that investors are already focusing on the ECB's interest rate decisions, which are coming tomorrow," according to analysts at Millennium BCP.

The European Central Bank (ECB) is expected to keep interest rates unchanged at its next meeting on Thursday, September 11, reflecting stable inflation close to target and resilient economic conditions, according to AllianzGI.

Meanwhile, in the US, it was reported that producer prices fell unexpectedly in August, leading to the belief that the effect will pass downstream and sustain the decline in inflation and, consequently, the Fed's interest rate cuts," says BCP's market analysis.

"Oracle is shining on Wall Street, soaring more than 40%, with figures showing a surprising growth outlook for its cloud business through 2030," they add.

The euro fell 0.03% to $1.1704.

Oil continues to rise, with Brent advancing 1.97% to $67.70, in a context of geopolitical escalation.