PSI keeps gains with Galp leading while oil rises more than 3%

Pthey 09:45 in Lisbon, the PSI advanced 0.28% to 9,456.90 points, with six quoted in the ‘green’, eight in the ‘red’ and Altri and Semapa unchanged in 4,70 and 20,70 euros respectively.

The gains were led by Galp, with oil moving 1.68% to 21,18 euros at a time when Brent's barrel was back above $91.

At the same time, the barrel for delivery in November was quoted at $91.34, plus 3.68% than on Friday and against $87.94 for the same time as the previous session.

Galp followed Gerónimo Martins, with gains from 0.83% to 18.12 euros, and BCP, which grew 0.62% to 1.13 euros.

With more modest rises were EDP (0.28% to 4,71 euros); Sonae (0.25% to 2,02 euros) and Corticeira Amorim (0.14% to 7.08%).

In reverse, Mota-Engil was the one that lost the most, by retreating 1.50% to 4.74 euros, followed by the CTT, which dropped 0.98% to 6.53 euros.

EDP Renewables went down 0.43% to EUR 13,37, Navigator 0.31% to EUR 3,26, NOS 0.24% to EUR 4,98 and Teixeira Duarte 0.21% to EUR 0,48.

Ibersol (-0.19% for EUR 10.34) and REN (-0.14% for EUR 3.50) also had negative variations.

Investors are today alert to the Middle East, following the attacks by the United States of America on the Iranian island of Larak, to which Iran responded with the launch of drones against an American base in the United Arab Emirates.

Also a supertanker suffered significant damage due to two naval mines in the Strait of Ormuz, according to the Iranian Revolutionary Guard.

These factors eventually boosted Brent's barrel price.

Texas oil (WTI) for delivery in October grew 3.46% to $86.29.