Markets, Business & Tech Briefing: PSI Up 0.59%, Galp Q1 Beats, EDP Renováveis Surges 4%

Monday, 27 April 2026 — Lisbon close.

PSI snapshot

The PSI closed at 9,177.55, up +0.59% (+53.79 pts) on the session, recovering from Friday's 9,123.76 finish and locking in a 1.2% month-to-date gain. Breadth was friendly, with energy and renewables doing most of the lifting on a quiet European day.

Top movers

Leaders: EDP Renováveis ripped +4.07% to €14.08, the day's clear winner after weeks of pressure on the wind names. Ibersol +1.53%, EDP +1.32% to €4.595 and CTT +1.19% to €6.37 rounded out the green column.

Galp ticked +0.47% to €19.30 — a muted reaction given the size of the Q1 beat (more below), suggesting the refining-margin story was already priced in after the Iran-war crude spike.

Laggards: Corticeira Amorim slid -2.30% to €6.38, the worst on the index. NOS dropped -1.52% to €5.525 and Jerónimo Martins lost -0.49% to €20.40 ahead of its own May reporting window. BCP closed flat at €0.8704.

Rates and currency

The Portuguese 10-year yield held at 3.42%, down 9bp over the past month even as it sits 38bp above its year-ago level. The Bund spread stayed in the recent narrow range with no fresh PGB supply on the calendar this week. EUR/USD drifted up to 1.1748 (+0.22%), shrugging off softer US data.

Galp Q1 — the week's headline print

Galp opened Lisbon's quarterly reporting season with a €272 million net profit, +41% year-on-year. The refining margin almost tripled to $14.8 a barrel as Iran-war crude pricing fed through, and upstream EBITDA climbed +78% on Brazilian production. Cash generation was strong enough to keep the buyback ticking. Watch the conference-call commentary on the Mozambique LNG timeline — that is the swing factor on the second-half story.

Cegid bills €85M in Portugal — Lisbon hub stays the Iberian anchor

Lyon-based ERP group Cegid reported €85 million in Portuguese billings in its first full year after closing the PHC acquisition. The Lisbon operation is now a 700-person Iberian hub with a 10% growth target for 2026 — a useful read on enterprise-software demand at a time when several listed Portuguese tech names are nervously watching IT-spend budgets.

€5.4B HSR concession draws its first bidder

Construction consortium Sacyr–DST–ACA filed the first public bid for the Oiã–Soure high-speed-rail concession, valued at €5.4 billion. IP relaunched the tender after 2024's first procurement drew no valid offers; the deadline now falls on 25 May. A second bidder would meaningfully change the price-discovery dynamic — worth watching for Mota-Engil and Teixeira Duarte read-across.

Outlook for Tuesday

Lisbon will likely take its cue from European tech earnings overnight and the US open. Eight PSI listings are due to report between 4 and 7 May, so positioning into next week's print starts in earnest tomorrow — Jerónimo Martins, BCP and the EDP complex are the names to watch.