5 things that will mark the day

This Monday, Galp will present its preliminary operating data for the second quarter before the stock market opens. The Eurogroup will then elect its new president. The day will also be marked by the debate in the European Parliament on the motion of censure against Ursula von der Leyen's government.

Galp presents results

The second half of July marks the start of the first-half earnings season for the main Portuguese listed companies, at a time when the PSI experienced its best first half of the last 18 years, with an appreciation of 21.8%, only surpassed in Europe by the Spanish IBEX 35. The kick-off will be given this Monday by Galp, which will present its preliminary operating data for the second quarter before the opening of the stock exchange . The oil company, which saw its profits fall 41% in the first quarter to 192 million euros, is now looking to show signs of recovery in a context of volatile international markets.

Eurogroup chooses new president

The Eurogroup will meet on Monday, with the election of the new president on the agenda . Three ministers have put forward their candidacy: the Minister of Economy, Trade and Enterprise of Spain, Carlos Cuerpo, the Minister of Finance of Lithuania, Rimantas Sadzius, and the current leader and Minister of Finance of Ireland, Paschal Donohoe, whom Portugal will support. The meeting's agenda also includes a discussion on the budgetary policy orientation for the States next year.

EP debate on motion of censure against Von der Leyen

The European Parliament (EP) will debate this week a motion of censure against Ursula von der Leyen's government. The debate will take place this Monday and the vote is scheduled for next Thursday, during the plenary session of the European Parliament , in Strasbourg. The initiative against the President of the European Commission came from a Romanian MEP, Gheorghe Piperea, from the European Conservatives and Reformists political group, who argues that the motion of censure is due to the controversial dossier of messages exchanged between Von der Leyen and Pfizer's CEO, Albert Bourla, during vaccine negotiations in the midst of the pandemic. The messages were never made public, despite several processes demanding more transparency from the Commission President in her first term.

Eurostat releases retail trade data

Eurostat will release May retail trade figures for the euro area and the European Union (EU). In April, retail trade volumes increased by 0.1% in the euro area and by 0.7% in the EU, compared to March. Compared to April 2024, the increase was 2.3% in the euro area and 2.8% in the EU.

Gasoline goes down this week

This week, only petrol will go down. Diesel, the most widely used fuel in Portugal, is not expected to see any price changes, but petrol is expected to go down by two cents from this Monday . So, when you go to fill up, you will pay 1.577 euros per litre of diesel and 1.674 euros per litre of 95% petrol, taking into account the average prices charged at the pumps on Monday.