Markets, Business & Tech Briefing -- February 27, 2026

Consumer Confidence Down, Business Climate Mixed

INE data shows consumer confidence fell in February after two months of gains. The economic climate indicator edged up slightly, with services and manufacturing improving but commerce and construction declining. The post-storm uncertainty continues to weigh on household sentiment even as underlying business conditions show resilience.

Budget Surplus Redirected to Storm Recovery

Portugal's 2025 budget surplus, expected to exceed the projected 0.3 percent of GDP, will be largely consumed by storm reconstruction spending in 2026. The Secretary of State for the Budget emphasised that the strong fiscal position was built on economic growth, not tax hikes, providing a buffer that most European peers would envy in a crisis year.

Housing Prices: APPII Warns of Deepening Crisis

Real estate developers told parliament that house prices rose 16.3 percent in 2025 alone, with more than half of Lisbon listings now above 500,000 euros. The APPII called for tripling annual construction to 70,000 units and warned that licensing delays add 500 euros per square metre per year to final costs. Two legislative proposals on tax relief and licensing reform were approved on 20 February.

Mercadona Hits 70 Stores in Portugal

Spanish supermarket chain Mercadona opened its 70th Portuguese store in Lisbon's Quinta do Lambert, creating 80 permanent jobs with a total investment exceeding 9 million euros. The chain now employs 7,500 workers across Portugal. President Juan Roig said the company aims to become "more Portuguese" as it continues its expansion.

IKEA Expands to Coimbra with New Concept Store

IKEA confirmed a new store in Coimbra for summer 2026, using a smaller-format "small but mighty" concept with a circular economy area. The opening creates 34 jobs and marks the brand's entry into the central region. Recruitment is already underway for the Mondego Retail Park location.

Cristiano Ronaldo Acquires 25% Stake in UD Almeria

Cristiano Ronaldo has purchased a 25 percent stake in Spanish second-division club UD Almeria through his newly created CR7 Sports Investments subsidiary. Almeria, currently third in the league, is owned by Saudi businessman Mohamed Al Khereiji. The deal expands Ronaldo's business portfolio beyond the pitch as he continues playing for Al-Nassr in Saudi Arabia.

EDP Completes Full Storm Power Restoration

EDP's network subsidiary E-Redes has restored electricity to 100 percent of customers affected by the January-February storm season. The effort involved repairing 6,000 kilometres of network and 5,800 damaged towers, with around 2,400 personnel mobilised including international crews from Spain, Brazil, France, and Ireland. CEO Miguel Stilwell d'Andrade described the physical damage as "unprecedented."

Porto Bids for EU Customs Authority Headquarters

The EU Council will decide on 25 March which city hosts the new European Union Customs Authority. Porto is competing against eight other cities including Rome, The Hague, and Malaga. Foreign Affairs Minister Paulo Rangel and Finance Minister Miranda Sarmento presented Portugal's case to MEPs in January. A win would bring permanent international jobs and institutional prestige to Portugal's second city.

ETIAS Travel Authorisation Postponed to 2027

The EU's planned ETIAS travel authorisation system for visa-exempt visitors has been officially delayed until at least 2027, due to setbacks in implementing the Entry/Exit System (EES). The postponement gives non-EU travellers, including Americans and Britons visiting Portugal, a reprieve from the new registration requirements and fees originally planned for this year.

Finance Minister Miranda Sarmento Discharged from Hospital

Finance Minister Joaquim Miranda Sarmento was discharged from Lisbon's Santa Maria hospital on Wednesday after being admitted for neurological observation the previous day. The ministry confirmed he is "doing well and resting" and will fully resume duties next week. The brief hospitalisation came during a critical period for budget and storm recovery planning.