BCP soars 4% and PSI trades in the 'green'

The Lisbon stock exchange is trading in positive territory in the middle of the session, with a rise of 1.51% to 7,588.41 points.

Leading the session is BCP, with a 4.18% surge to €0.7020, followed by EDP Renováveis, with a 2.42% rise to €9.73. Galp gains 1.74% to €16.05, EDP increases 1.47% to €3.662 and Navigator advances 1.33% to €3.346.

In the opposite direction, only one listed company recorded losses, Ibersol fell 0.98% to 10.10 euros.

The main European markets are trading in the 'green', with the DAX increasing 0.49% to 23,741.80 points, the CAC40 gaining 0.79% to 7,745.14 points and the Ibex35 rising 1.11% to 14,058.00 points.

Millennium Investment Banking’s market analyst, Ramiro Loureiro, states that “ European stock markets are rising this Monday, with the PSI leading the gains, followed by the IBEX. The Portuguese stock index is being driven by the 4% rise in BCP, which exceeds 70 cents per share, two days before the announcement of its 3 cents per share dividend, which will be paid to shareholders from June 20th. In France, the CAC is being driven by the strong appreciation of Kering, following news that it has seduced the CEO of Renault to lead its recovery, which has been dragged down by difficulties at Gucci. Renault, on the other hand, is losing more than 6%”.

“Despite the conflict environment in the Middle East with tensions between Iran and Israel, which last Friday caused a sharp rise in oil prices and which today continue to encourage the energy sector, investors seem encouraged by good retail sales data in China and by apparent confidence in the resolution of negotiations between the US and its trading partners to avoid or ease suspended customs tariffs, giving space for talks”, it says.

In the oil market, Texan WTI lost 1.28%, setting the price per barrel at $70.38, and Brent fell 1.29% to $73.27. Natural gas rose 3.49% to $3.707.

In the foreign exchange market, the euro appreciated 0.20% against the dollar, settling at 1.1575 dollars.