Energy companies lead Lisbon on an indecisive day on the stock markets

The Lisbon stock exchange followed the mixed sentiment seen among its major European counterparts in Monday's session. The PSI index fell 0.03% to 7,671 points.

Galp led the gains, gaining 1.80% to €16.15 per share after reporting first-quarter results, which showed a 9% decline in profits . It was followed by EDP Renováveis, which advanced 1.60% to €10.17, as well as EDP, which added 1.52% to €3.811.

Conversely, NOS fell 2.09% to €3.75, while Jerónimo Martins fell 1.53% to €21.92. BCP also suffered, falling 1.16% to €0.6644, hit by the generally negative outlook across European banking.

In international benchmark indices, sentiment was mixed. On the one hand, there were increases of 0.23% in Italy, 0.21% in Spain, and 0.04% in Germany. At the same time, there were declines of 0.39% in Italy and 0.31% in France, while the Euro Stoxx 50 aggregate index lost 0.33%.

Futures are seeing declines of 0.87% for Brent crude, which is now at $68.68, and 0.83% for WTI crude, which is at $65.50. Meanwhile, in the foreign exchange market, the euro is rising 0.65% against the dollar, with one euro trading at $1.1702.

"European stock markets oscillated between green and red throughout the day and ended up divided between slight gains on the IBEX and losses of 0.3% on the CAC," highlights the analysis by the Equity Markets Department of Millenium Investment Banking.

"The PSI closed on the downside, despite the good performance of Galp, in response to accounts, and the EDP group," it adds, regarding the Lisbon stock exchange.

"Investors showed some caution as they await days of intense financial reporting, which will be joined on Thursday by preliminary activity data on industry and services in the eurozone, the United Kingdom, and the United States, as well as the ECB's monetary policy decisions," the analysts point out.

"The Natural Resources sector, especially mining companies, has shown enthusiasm for the rise in iron ore and steel prices, driven by China's plan for a mega-dam in Tibet, which reinforces the demand outlook," the same analysis states.