Teixeira Duarte soars more than 11% and pushes PSI into the 'green'

The Lisbon stock exchange closed the day with a slight gain of 0.02% to 8,228.32 points.

Teixeira Duarte led the day with an 11.33% surge to €0.68, followed by Ibersol, which rose 1% to €10.10. BCP gained 0.90% to €0.760, EDP Renováveis ​​rose 0.47% to €12.91, EDP added 0.25% to €4.326, and Altri advanced 0.10% to €4.995.

In contrast, Corticeira Amorim lost 0.98% to 7.09 euros, Semapa fell 0.86% to 18.38 euros, Galp slipped 0.84% ​​to 16 euros, Navigator slid 0.83% to 3.090 euros and Jerónimo Martins fell 0.58% to 20.66 euros, after announcing the purchase of the Luís Vicente group.

The main European markets closed in mixed territory, with the CAC40 losing 0.18% to 7,919.62 points and the Ibex35 increasing 0.29% to 15,583.51 points.

Millennium Investment Banking market analyst Ramiro Loureiro states that " most European stock markets closed lower, although they eased their pessimism during the afternoon, given the easing of the decline also seen on Wall Street, which ended up bringing some indexes into gains, including the Portuguese PSI. This was on the day that marked the official start of the earnings season for the third quarter."

"After many indices have just reached all-time highs, from the American ones to the European Stoxx 600 and the global MSCI World, increased volatility is noticeable, driven by fears of a rekindled trade war between the US and China. It remains to be seen to what extent the financial reporting season that is now beginning will provide positive insights for investors, especially regarding whether all the traction seen around Artificial Intelligence is justified," he notes.

In the oil market, Texas-based WTI fell 1.63% to $58.52 per barrel, while Brent lost 1.90% to $62.11. Natural gas fell 3.34% to $3.014.

In the foreign exchange market, the euro appreciated 0.27% against the dollar, settling at 1.1602 dollars.