PSI closes higher with Mota-Engil soaring nearly 10%. European stock markets close positive

The PSI closed up +0.65% to 7,754.11 points with Mota-Engil shares soaring +9.41% to 5.580 euros.

The Portuguese construction company won the tender for the construction, operation, and maintenance of the immersed tunnel in Brazil, which will connect Santos to Guarajá, in São Paulo, under a 30-year concession contract costing €1.1 billion. It beat off competition from Spain's Acciona.

In second place in stock market gains, but far behind, is CTT, which rose 2.68% to €7.29. Corticeira Amorim rose 1.62% to €7.53; Ibsersol rose 1.45% to €9.78; BCP rose 1.29% to €0.7200; and EDP Renováveis ​​also closed up 1.20% to €10.12.

Only Sonae (which fell -0.77% to 1.2880 euros) and NOS fell -0.26% to 3.895 euros.

In Europe, green dominated, as investors sought alternatives to lower sovereign interest rates in the stock market. MTrader analysts highlighted in their stock market analysis "the positive plan presented by clothing retailers such as Adidas and Zalando."

The STOXX Europe 600 rose 0.60% and the EuroStoxx 50 advanced 0.84% ​​to 5,362.8 points.

The FTSE 100 rose 0.14% to 9,221.4 points; the CAC 40 closed up 0.78% at 7,734.8 points; the DAX advanced 0.89% to 23,807.1 points; the FTSE MIB appreciated 0.28% to 41,723.7 points. The Spanish IBEX surpassed 15,000 points (15,002 points) after rising 1.02%. Meanwhile, Amsterdam rose 0.67% and only Athens closed down 0.28%.

In Europe, all eyes are on France. The French Prime Minister warned today, according to Lusa, that the "greatest risk" for France is continuing "without changing anything," defending the vote of confidence as "a testament to the truth" regarding the urgency of debt reduction.

"The main European stock indexes closed higher on the day the French government submitted a vote of confidence, which, if rejected, would lead to early elections," Millennium BCP analysts highlighted.

François Bayrou, in the French National Assembly, said that “our country works, believes it is getting richer, and every year it becomes a little poorer.”

“It is a silent, subterranean, invisible and unbearable hemorrhage,” he said, before the vote that could lead to the fall of the Government, being interrupted several times by the opposition, according to the Lusa news agency.

The Prime Minister, in office for nine months, justified the call for this motion of confidence before the 577 French deputies, which many classified as political suicide, for wanting this “proof of the truth”, in a National Assembly fragmented (in three blocs: left, center-right and extreme right) and without a majority.

"The decline in sovereign debt yields reflects expectations of interest rate cuts by central banks in the week the ECB announces its decision. This ultimately benefits stock markets, as investors seek more profitable alternatives to traditional term deposits, which reduce interest rates," argue BCP analysts.

Ebury, meanwhile, argues that the ECB should keep rates unchanged on Thursday.

The euro appreciated 0.27% to 1.1749 dollars.

Oil prices rise despite increased OPEC+ production. Brent advances 1.05% to $66.19, while crude oil rises 0.95% to $62.46.