Lisbon Stock Exchange Slides Amid European Mixed Signals

Portuguese Index Trails Paris, Amsterdam as CTT Plummets

Lisbon’s stock market opened Tuesday with a notable dip, shedding 0.56% to settle at 7,629.96 points. This downturn contrasts with positive movements in Paris and Amsterdam, which registered gains of 0.47% and 0.36% respectively.

CTT Leads Declines After Earnings Report

The Portuguese Securities Index (PSI) recorded a loss of 0.44% in the previous session, and Tuesday’s trading saw the majority of its listed companies in negative territory. Out of 15 index components, nine experienced declines, four saw increases, and two remained flat.

CTT Correios de Portugal was the hardest hit, plunging 5.82% to 7.12 euros per share. This sharp fall followed the postal service’s first-half results, which showed a profit of 22 million euros, an 11% increase year-over-year. Despite the profit growth, investor sentiment appears to have soured.

Blue Chips Face Downward Pressure

Major players also contributed to the negative momentum. EDP saw a decrease of 0.86%, while its renewable energy arm, EDP Renewables, fell by 0.87% early Tuesday. Other significant companies, including Jerónimo Martins and Galp, were also trading lower, down 0.37% and 0.27% respectively.

On the upside, Ibersol stood out with a gain of 0.84%, reaching 9.66 euros per share. BCP bank also saw positive movement, rising 0.29% to 0.6840 euros per share, buoyed by the positive half-year results reported by Bank Millennium.

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