PSI falls in a mixed Europe and despite EDP's rise

The PSI fell -0.36% to 7,816.16 points, despite the rise of EDP (+0.78% to 3.861 euros) and EDP Renováveis ​​(+0.29% to 10.37 euros). REN rose +0.17% to 2.980 euros, being the only stocks that closed in the green.

The decline in securities predominated in the Lisbon index. Altri (-1.95% to 5.030 euros) and Mota-Engil (-1.73% to 4.758 euros) dominated the losses.

Navigator fell -1.31% to €3.324; Semapa lost -1.11% to €17.86; Corticeira Amorim fell -1.30% to €7.61; CTT closed down -1.07% to €7.43 (despite receiving a significant upgrade, but without providing any upside); and Sonae also fell -1.07% to €1.2920. Other stocks closed with declines of less than 1%.

BCP is among these, recording a 0.83% drop, closing at €0.7382. "The banking sector was affected by political uncertainty in France and reports that the Italian government is considering extending a law that makes it more difficult to use tax credits to deduct future profits. In Portugal, only EDPR, EDP, and REN managed to escape the declines," reveal analysts at Millennium investment banking.

Europe closed mixed, awaiting Nvidia's results. "European stock markets closed divided between Iberian and German losses and French gains. Investors were on standby for a while, awaiting Nvidia's results after Wall Street closed, a barometer for the technology sector that impacts market sentiment," adds MTrader.

Henrique Valente, an analyst at ActivTrades Europe, also highlights that the markets are closely monitoring Nvidia's results. "Nvidia's results will be released today, the last of the Magnificent 7 to report. Shares rose just over 1%, after a correction of around 7% last week, as investors question the sustainability of growth linked to artificial intelligence. Historically, the company's results have been a catalyst for volatility in US indices, and expectations are no different now. The options market points to a swing of around 6% in the share price. Considering that Nvidia represents about 7% of the S&P 500, the impact on the market after Wednesday's close could be significant," the analyst notes.

The Stoxx 600 rose 0.10% and the EuroStoxx 50 gained 0.17%.

London closed down 0.11% to 9,255.5 points. The CAC 40 in Paris recovered from the previous day's catastrophe and closed up 0.44% to 7,743.93 points.

The DAX lost 0.44% to 24,046.21 points; the FTSE MIB fell 0.72% to 42,349.4 points; and the Spanish IBEX fell 0.65% to 15,020.9 points.

The euro falls 0.17% to $1.1622.

Brent crude is up 0.82% to $67.77 and WTI crude is up 1.09% to $63.94.