Galp gives gas to the Lisbon Stock Exchange with share price jump of over 2%

The Lisbon Stock Exchange started Tuesday’s trading session in green territory, on the back of a more than 2% increase in Galp Energia’s share price. The PSI-20 advanced 0.31% in the first minutes, to 5505.49 points.
Of the 19 listed companies on the main Portuguese index, seven were up, five were down and seven remained unchanged.
The Portuguese energy company stands out leading gains after yesterday announcing a partnership with Northvolt for the development of an industrial project in the lithium area. This morning, Jefferies also raised the recommendation for the shares of the quoted company, from “hold” to “buy”, with a potential appreciation of 22.07% compared to the closing value of yesterday’s session.
The energy sector, as a whole, is showing a good performance, with EDP being the second company on the earnings podium, advancing 0.57%. EDP Renováveis also appreciated 0.28%. Navigator (0.43%), Jerónimo Martins (0.39%), Sonae (0.16%) and Mota Engil (0.08%) were also positive.
In contrast, Corticeira Amorim was the biggest loser, down 0.90%, followed by Greenvolt, down 0.63%. Right behind are Pharol (-0.60%), Nos (-0.58%) and CTT (-0.24%).
Lisbon follows the positive trend felt this morning in most European markets trading in green. The Stoxx 600, an index that aggregates the main companies in Europe, started trading up 0.30%.

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