Markets, Business & Tech Briefing: PSI Climbs 0.69% to 9,102, BCP Holds Above €1, Novabase Closes Buyback

Top Gainers

• Teixeira Duarte +4.63% to €0.497 — the construction tail led the board for a second time this week.
• Mota-Engil +1.13% to €4.65 — clawing back ground after Wednesday's worst-of-index print.
• Galp +1.12% to €18.62 — Brent's lift to $80.24 (+0.54%) reopened the energy bid.
• EDP Renováveis +1.11% to €13.54 — followed the European utility rotation.
• BCP +0.88% to €1.0345 — the bank holds the €1 line it crossed earlier in the week for the first time since 2015, after Friday's session printed a fresh post-2015 high.
• NOS +0.58%, Jerónimo Martins +0.12% and EDP +0.27% rounded out the green column.

Laggards

Only two names finished red: Ibersol and Sonae SGPS drifted lower on light flow, both under 1% off as defensive consumer names lagged the cyclical rebound.

Sovereign Debt and FX

Portuguese 10-year OT (Obrigações do Tesouro) yields ticked up 4.1 basis points to 3.35%, holding the long-running low-30s range against a German Bund 10Y at 2.98%. The Portugal–Germany spread sits at ~37 bps, still inside the post-2025 narrow channel and well below the Italian BTP gap.

EUR/USD slipped to 1.1428 at the European close, the week's low, with the pair pressured by a firmer dollar after the postponement of the US–Iran negotiation round in Switzerland. The euro lost ground from Monday's 1.1617 print as Federal Reserve repricing and Middle East risk weighed.

Business and Tech

Novabase Closes Buyback Programme 326,000 Shares Short of Target

Tech listed Novabase notified the CMVM (Comissão do Mercado de Valores Mobiliários — Securities Market Commission) that it terminated the share-buyback programme launched in December 2024 with the acquisition of 134,101 own shares, well short of the 460,000-share cap the board originally authorised. The IT integrator now holds 744,616 treasury shares (1.94% of share capital), with management citing that the bucket needed to cover the executive and employee share-attribution plan has been filled — exhausting the programme's purpose ahead of the December 2026 expiry.

Euronext Launches IPOgo to Pull SMEs Onto Euronext Growth

Euronext used the closing campus of its 2026 IPOready preparation programme — hosted in Lisbon with six Portuguese companies among more than 160 candidates from 22 countries — to unveil IPOgo, a streamlined listing track that compresses Euronext Growth admission from seven-to-eight months to four. The package cuts the free-float floor to 10%, opens up to 100% of an offering to retail investors and lets issuers raise up to €12 million with simplified documentation and a fully digital execution flow. IPOgo first goes live in France and Italy, with Lisbon and Brussels expected to follow as Euronext courts mid-cap Portuguese candidates from the IPOready pipeline.

Revito Adds Coimbra's Torre do Arnado to Its Stack

Real-estate group Revito, controlled by Filipe Espinha, picked up the Torre do Arnado in Coimbra, a mixed-use tower bundling office, retail and coworking floors after a recent overhaul. The deal extends Revito's regional commercial portfolio outside Lisbon and Porto and lands at a moment when CBD office rents in the Centro region are firming on the back of life-sciences and university-linked tenant demand.

Outlook — Monday 22 June

Eyes turn to Europe's flash PMI prints on Monday for the first reading of June activity, alongside any weekend headlines on the postponed US–Iran talks and Hormuz transit flows that could swing Galp and the energy leg. Domestically, watch CMVM filings around the BCP €1 line and any update on the Acciona Energía Portuguese wind-and-solar divestment process, with advisor mandates already in market for the 166 MW stack.

Briefing compiled by The Portugal Brief markets desk. Sources: Euronext Lisbon, Jornal Económico, Jornal de Negócios, ECO, Trading Economics, CMVM filings.