Amorim gains 5% and PSI surpasses 8,000 points on a mixed day in Europe

The PSI index surpassed 8,000 points this Thursday and renewed its 2011 highs. The positive sentiment in Lisbon was boosted by the rise of Corticeira Amorim, whose capitalization benefited from the agreement established between the EU and the USA regarding tariffs.

The issue at stake is a 0.43% daily rise, to 8,020 points, in the Lisbon stock exchange's benchmark index. Corticeira Amorim stood out, with shares rising sharply in the second half of the session, ending the day up 5.24% to €8.03. The issue is the fact that tariffs announced this afternoon exempt the cork segment , which boosted investor confidence.

At the same time, BCP advanced 1.35% to 0.7972 euros, while Galp gained 1.11% to 16.44 euros and REN advanced 0.66% to 3.035 euros.

On the other hand, Mota-Engil recorded a 3.35% slippage, which left shares at €5.335 at the close of European markets.

Abroad, there were increases of 0.02% in Spain, 0.06% in Germany, 0.27% in the United Kingdom, and 0.29% in Italy. Meanwhile, the CAC 40 in France fell 0.44%, while the Euro Stoxx 50 aggregate index slipped 0.17%.

In the futures market, the price of Brent crude oil is rising 0.88% to $67.43, while crude oil is also rising 0.88% to $63.26. On the foreign exchange market, the euro is down 0.34% and trading at $1.1610.

According to analysis by the Equity Markets Department at Millenium Investment Banking, “European stock markets closed with mixed gains and slight losses.”

"Despite preliminary indications that activity in the eurozone and especially in the US was much more robust than expected in August, with industry surprisingly returning to expansion on both sides of the Atlantic, investors showed some caution on the day that marks the start of the annual Jackson Hole Symposium," the analysts noted.

There they are looking for "signals about possible interest rate cuts by different central banks, and the Fed chairman will speak tomorrow."

"The banking sector was among the best performers, and BCP took advantage, heading for its sixth consecutive week of gains, approaching 80 cents per share. Corticeira Amorim was enthusiastic after cork oak bark material was listed among the tariff-exempt products in a joint US-EU declaration," it adds.