Daily Briefing — Friday, 3 April 2026
Today's briefing: TAP Privatization: Two Bidders Remain After IAG Exits, Nationality Law Passes Parliament for Second Time, Euribor Rising: April Mortgage Reviews Will Be Higher, and 4 more.
📋 In This Edition
- TAP Privatization: Two Bidders Remain After IAG Exits
- Nationality Law Passes Parliament for Second Time
- Euribor Rising: April Mortgage Reviews Will Be Higher
- Strait of Hormuz: Iran-Oman Talks Ease Market Jitters
- Portugal's Stock Exchange Closes for Easter After Best Week in Five Years
- Good Friday: Public Services, Shops, and Transport on Holiday Schedule
- Cybersecurity Law Takes Effect Today
Good Friday edition. Markets closed today; Portugal pauses for the Easter long weekend.
TAP Privatization: Two Bidders Remain After IAG Exits. Lufthansa Group and Air France-KLM both submitted non-binding offers for TAP Air Portugal's 44.9% minority stake before Wednesday's deadline. IAG, parent of British Airways and Iberia, confirmed it would not bid. The government will evaluate proposals over the coming weeks. Portugal retains majority ownership regardless of outcome. (Reuters, Aviation24)
Nationality Law Passes Parliament for Second Time. The Assembly of the Republic approved amended nationality legislation on 1 April with a 152-64 vote — securing the required two-thirds supermajority. The PSD-Chega deal includes a provision allowing judges to strip nationality as an additional penalty for certain crimes. President Seguro must now decide whether to promulgate, veto, or refer to the Constitutional Court. Left-wing parties voted unanimously against. (Lusa)
Euribor Rising: April Mortgage Reviews Will Be Higher. Families whose mortgage contracts are reviewed this month face the first war-related payment increases. The six-month Euribor has risen above 2.5%, adding roughly 15 euros per month to a typical 150,000-euro loan. Consumer group DECO PROteste advises borrowers to explore switching to mixed-rate contracts. (Euronews, Bank of Portugal)
Strait of Hormuz: Iran-Oman Talks Ease Market Jitters. Reports that Iran is negotiating a protocol with Oman to supervise shipping through the Strait of Hormuz calmed European markets on Thursday. Oil prices pulled back from session highs after Trump's overnight speech had initially sent crude surging. The Strait remains effectively closed since 4 March. (Reuters, NYT)
Portugal's Stock Exchange Closes for Easter After Best Week in Five Years. The PSI index gained 5.49% this week — its strongest performance since January 2021 — before closing Thursday at 9,369.63 points for the Good Friday holiday. Galp surged nearly 4% on the final session, boosted by rising oil prices. Markets reopen Monday. (ECO, Jornal de Negocios)
Good Friday: Public Services, Shops, and Transport on Holiday Schedule. Most shops, government offices (including AIMA, Financas, and Social Security), and banks are closed today. Supermarkets vary by location — some open reduced hours, many close entirely. Public transport runs on Sunday/holiday timetables in Lisbon and Porto. Easter Monday is not a public holiday in Portugal; normal service resumes Tuesday after some businesses extend the weekend informally.
Cybersecurity Law Takes Effect Today. Portugal's new cybersecurity framework, transposing the EU's NIS2 directive, officially enters force on 3 April. Over 4,000 companies across critical sectors — energy, transport, health, finance, and digital infrastructure — must now comply with stricter incident reporting and risk management requirements. Penalties for non-compliance can reach 10 million euros. (Diario da Republica)
