PSI remains negative mid-session

The Lisbon stock exchange remains in the 'red', with a loss of 0.91% to 7,666.27 points.

Navigator led the losses, falling 4.48% to €3.112. REN followed, dropping 3.44% to €3.090, Altri lost 1.93% to €4.830, BCP fell 1.61% to €0.6826, Semapa slipped 1.14% to €1.2480, and EDP fell 0.19% to €3.765.

In contrast, Ibersol rose 0.63% to 9.66 euros, NOS added 0.14% to 3.61 euros, Corticeira Amorim increased 0.13% to 7.69 euros and EDP Renováveis advanced 0.10% to 10.23 euros.

The main European markets are trading in mixed territory, with the DAX losing 0.70% to 24,224.80 points and the Ibex35 falling 0.68% to 14,170.19 points, while the CAC40 increased 0.06% to 7,822.89 points.

Millennium Investment Banking market analyst Ramiro Loureiro states that " European stock markets are gaining traction throughout the morning, even though most major indexes remain in negative territory. Marking the day are multiple corporate accounts, including the Portuguese Altri, Navigator, and REN, which reacted negatively to the decline in profits at pulp and paper companies and EBITDA at the power grid company. On the international front, it's worth highlighting the reversal in sentiment at LVMH, which is now rising after having been declining, in response to the greater-than-expected contraction in comparable sales at its largest unit."

Analyst notes point to signs of hope in the Asian market, which may be boosting stocks. Along with Carrefour, it's boosting CAC. Volkswagen even cut its outlook, assuming the company would expect 27.5% tariffs on US imports, but the market believes these could be lower, around 15%, as was applied to Japan, which is why shares are rising. On the downside, Puma's decline is noteworthy, as it issued disappointing preliminary data and a profit warning . Valeo's outlook also disappointed. All this as we approach the August 1st deadline for Trump to reach agreements that will ease the tariffs announced in April, which at the time sent markets tumbling, notes the analyst.

In the oil market, Texas-based WTI added 0.45%, setting the price per barrel at $66.32, and Brent rose 0.42% to $69.47. Natural gas rose 1.07% to $3.127.

In the foreign exchange market, the euro depreciated 0.17% to 1.1729 dollars.