Markets, Business & Tech Briefing: PSI Slips 0.53% on JM and Mota-Engil, IGCP Sells €3B 20-Year Bond at 18x Demand, Aforro June Rate Hits 2.215%

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Outlook: PSI Watches Brent and the Vista Alegre Delisting AGM Friday, Martifer OPA Closes Wednesday 3 June, CGTP Greve Geral Same Day

Outlook: Friday 29 May 2026 opens Euronext Lisbon with the Vista Alegre Atlantis delisting AGM at €1.07 per share headlining the listed-name calendar, the Banco Comercial Português €407.46 million recompra-de-ações execution clock counting down to the 4 June JPMorgan window open, and the Brent-versus-OPEC+ tape carrying the next directional cue on the Galp Energia share after Thursday's −0.43% give-back from the Wednesday +3.48% spike. The mid-cap dividend-and-OPA calendar walks the Visabeira Indústria mandatory tender offer for Martifer at €2.057 per share to its Wednesday 3 June acceptance deadline against the Optimize Portugal Golden Opportunities fund's €2.25 per-share sabotage-block purchases, and the CGTP greve geral on the same Wednesday 3 June lands the CP, TAP cabin-crew, Autoeuropa and Frente Comum labour bloc onto the Rosário Palma Ramalho 12-proposition labour-reform negotiation clock. The sovereign-funding read carries: the IGCP €3 billion 20-year syndication closing Thursday with an 18-times oversubscription and the Portugal–Bund spread tightening to ~32 basis points reinforce the back-half-2026 wholesale-issuance window, while the Certificados de Aforro June 2.215% retail-savings step-up and the Banco de Portugal DSTI 45% macroprudential-cut binding-by-law push from Álvaro Santos Pereira walk the household-credit-versus-savings file toward the next Conselho Nacional de Supervisores Financeiros review cycle. The TAP binding-offer phase walks into the Q3 2026 Lufthansa-versus-Air France-KLM final-call timeline, the CIP/ISEG May Barómetro trim to 1.5% 2026 GDP frames the forecast-revision channel, and the CP Porto–Lisboa €504 million high-speed bid-submission window walking to 2 July anchors the public-investment beta on Mota-Engil after Thursday's −2.13% construction-tape drop.