Lisbon Stock Exchange follows European red

The Lisbon Stock Exchange is trading in the red midway through Wednesday's session, down 0.33% to 7,427.81 points. Europe went from green to red between the start and the middle of the stock market session.

On the Portuguese stock exchange, the biggest losses were for Banco Comercial Português (BCP), which fell 1.65% to 0.65 euros, followed by CTT, which fell 1.23% to 7.20 euros, and NOS, which fell 1.05% to 3.77 euros.

Sonae, REN, Altri, EDP, Semapa, and Galp Energia are also in the red.

Trading in the green is EDP Renováveis, up 0.92% to 9.86 euros, followed by Corticeira Amorim, up 0.64% to 7.85 euros, and Navigator, up 0.24% to 3.29 euros.

Mota-Engil is also in green.

In the middle of the session, most of the main European stock markets fell into the red after the green reached at the start of the stock market session this Wednesday.

The DAX (Germany) falls 0.47%, the CAC 40 (France) depreciates 0.23%, and the FTSE 100 (United Kingdom) breaks 0.04%.

The AEX (Netherlands) rose 0.17%, the IBEX 35 (Spain) fell 1.24%, and the FTSE MIB (Italy) fell 0.05%.

“After a day of great optimism, European stock markets remain unenthusiastic, oscillating between gains and slight losses. The Automotive sector leads the gains, after it was announced that car sales in Europe grew by 1.9% in May, driven by sales of plug-in hybrid and electric vehicles, with Stellantis also excited about an upgrade . In the Technology sector, companies linked to the semiconductor industry, such as equipment giant ASML, are performing well”, highlights Millennium’s research .

“The Energy sector is recovering from a 1% rise in oil prices, after two days of sharp declines in the price of the raw material. Although the Utilities sector continues to fall, it is worth noting the appreciation of EDP Renováveis, which is the sector leader in Europe, driven by yesterday’s strong motivation in the sector on Wall Street, in the face of what could be a new U-turn in the United States regarding the elimination of subsidies for renewable energy. The delivery sector, which includes DHL and CTT, is feeling the negative environment brought about by the FedEx Outlook . In the payment methods sector, Worldline is falling due to suspicions of links to fraudulent transactions”, adds Millennium.

Oil is trading higher with Brent up 0.83% to $66.72 and crude up 1.06% to $65.05.

The euro is down 0.04% against the dollar to $1.16064 and the euro is down 0.03% against the pound to £0.85263.