PSI remains in the red mid-session: Mota-Engil leads losses

The Lisbon stock exchange is trading in negative territory mid-session, down 0.23% to 7,670.07 points.

Mota-Engil led the losses, falling 2.64% to €4.800, followed by Navigator, which lost 0.91% to €3.266. CTT fell 0.83% to €7.20, BCP slipped 0.56% to €0.7106, and Galp slipped 0.38% to €15.88.

In contrast, EDP Renováveis ​​gained 0.51% to 9.95 euros, Semapa increased 0.45% to 17.88 euros, REN added 0.34% to 2.960 euros and EDP advanced 0.32% to 3.733 euros.

The main European markets are trading in the 'green', with the DAX increasing 0.15% to 23,786.00 points, the CAC40 gaining 0.56% to 7,793.06 points and the IBEX35 rising 1.25% to 15,211.96 points.

Millennium Investment Banking market analyst Ramiro Loureiro states that " European stock indices remain divided on the eve of the ECB's important interest rate announcement, with expectations that it will maintain the key rate for the Eurozone at 2%. Even so, there is a certain optimism that extends from Asia to Wall Street, partly driven by perspectives on the impact of Artificial Intelligence, which were reinforced by Oracle's outlook yesterday, as well as by TSMC's revenue growth."

"Retail is buoyed by the surge in Inditex, with the owner of Zara excited about the start of the third quarter. Also in the business world, Alstom is buoyed by an order. Rheinmetall is also active, after Poland reported shooting down drones that crossed its territory during a new Russian airstrike on neighboring Ukraine. Indicators of a weaker US labor market have fueled hopes of further interest rate cuts by the Fed, playing into the hands of the markets," the analyst notes.

"From China, a deflationary scenario is emerging, both in producer and consumer prices. In France, Emmanuel Macron appointed Sebastien Lecornu, a longtime ally, as the new prime minister to try to pass a budget in a divided Parliament, with his inauguration scheduled for today," he emphasizes.

In the oil market, Texas WTI rose 0.89%, setting the price per barrel at $63.24, and Brent gained 0.93% to $67.01. Natural gas lost 0.42% to $3.10.

In the foreign exchange market, the euro depreciated 0.06% to 1.1702 dollars.