Lisbon at highs of almost 10 years. Amorim and REN lock in greater gains – Markets

The Lisbon stock exchange opened in positive territory, with the PSI renew highs of almost ten years. The main national index opened this Friday’s session rising 0.19% to 6845.98 points, driven by the EDP group’s accounts. Preventing further increases are the reactions to the results of Corticeira Amorim and REN.

Of the 16 listed, 10 companies are rising and four are falling in value. Semapa and Greenvolt are unchanged.

Registering the biggest increase of the day is EDP, appreciating 2.30% to 3.78 euros, after the company presented a 17% increase in profits in the first quarter of the year to 354 million euros. This result was supported by the growth in the weight of electricity networks in Brazil in quarterly accounts. Just this morning, the energy company announced that will slow down the pace of its investments between 2024 and 2026.

A EDP ​​Renováveis ​​also rose 0.91% to 14.48 euros, driven by quarterly accounts that revealed a 4% year-on-year increase in net profit to 68 million euros. The company also announced that it will significantly reduce investment by 2026 by 3 billion.

Also boosting the index is Altri’s 1.03% rise to 5.41 euros. Ibersol, Galp, Navigator, NOS, Sonae, Jerónimo Martins and BCP were also appreciating in the first minutes of trading.

In contrast, the Corticeira Amorim leads losses in this Friday’s sessionregistering a drop of 4.02% to 9.54 euros. The company led by António Rios Amorim ended the first quarter of the year with profits of 16.1 million euros, 32.4% less compared to the same period last year.

Accompanying this devaluation was REN, in second place on the podium, accounting for a drop of 3.37% to 2.30 euros. In the first three months of the year, the company achieved profits of just 3.7 million euros, a drop of 71.1% compared to the same period in 2023.

Mota-Engil depreciates 0.98% to 4.05 euros and CTT records a decline of 0.34% to 4.36 euros.