Markets, Business & Tech Briefing — Thursday, 2 April 2026

Global Markets Rally for Second Straight Day on Iran Ceasefire Hopes

US stocks closed sharply higher on Tuesday as cautious optimism grew that the war in the Middle East may be nearing a conclusion. Brent crude briefly fell below $100 a barrel for the first time in weeks. European bourses followed the upward trend, with the Euro Stoxx 50 gaining ground. Markets enter Thursday watching for any developments on the Iran diplomatic track. (Source: Bloomberg/CNBC)

Government Approves Housing Tax Package to Boost Supply

The Council of Ministers approved a housing-focused tax package last week that includes reduced VAT (from 23% to 6%) on construction of homes intended for sale or rent at "moderate prices" — defined as up to 2,300 euros/month rent or 660,982 euros sale price. Capital gains tax exemptions will apply when sale proceeds are reinvested in properties let at moderate rents. The government aims to increase housing supply and moderate prices through tax incentives rather than price controls. (Source: Euronews/International Tax Review)

Fuel Support Measures: Professional Diesel Gets Extra 10 Cents/Litre

Between April 1 and June 30, professional diesel users — goods vehicles over 35 tonnes and buses with 22+ passenger seats — will receive an additional 10 cents/litre support on top of existing ISP cuts. Agriculture, forestry, and fisheries sectors get the same on dyed diesel through IFAP. Total fuel-related measures now amount to approximately 150 million euros per month. (Source: Euronews/government press release)

EU Eyes Limits on Short-Term Rentals as Housing Debate Reaches Brussels

The European Commission has proposed a pan-European investment platform channeling 10 billion euros per year into affordable housing, along with tools to allow member states and local authorities to limit short-term rentals. Portugal's housing market — where Airbnb-style rentals have been blamed for driving up prices — featured prominently in the parliamentary debate. (Source: Observador/Lusa)

Portugal's 6% Construction VAT Faces EU Compatibility Questions

The government's plan to slash construction VAT from 23% to 6% for affordable housing may face EU VAT directive constraints. The reduced rate applies specifically to primary residences and rental properties at moderate prices, but the European Commission's VAT rules limit which construction activities can benefit from reduced rates. Implementation details are still being finalized. (Source: International Tax Review)

Portugal Term Deposit Rates Tick Up as Banks Compete for Savings

Portuguese term deposit interest rates rose for the first time since October 2025, as banks compete for retail deposits amid expectations that the ECB's next rate move may be upward rather than downward. With Euribor rates having jumped in the largest three-year surge recently, the cost of variable-rate mortgages is rising while savers finally see marginally better returns. (Source: Bank of Portugal data)

FIFA World Cup 2026: Last-Minute Ticket Sales Open Today for Portugal Matches

FIFA's resale marketplace opens today, April 2, offering last-chance tickets for the 2026 World Cup in the US, Canada, and Mexico. Portugal, drawn in Group K alongside Colombia, are among the most in-demand teams. The cheapest Portugal tickets start at $575 on the secondary market. Portugal's group stage match against Colombia at Hard Rock Stadium in Miami is a marquee fixture. The tournament kicks off in June. (Source: USA Today/FIFA)

SpaceX Files for IPO — Potential Ripple Effects for European Tech

SpaceX's IPO filing could be one of the largest ever for a US technology company. For Portugal's growing tech ecosystem — anchored by Lisbon's Web Summit and a cluster of space-tech startups — a successful SpaceX listing could boost investor appetite for European space and aerospace ventures. Portugal has been building its space sector credentials through ESA participation and the planned Santa Maria spaceport in the Azores. (Source: Observador/AFP)

Brent Crude Dips Below $100 on Ceasefire Signals

Oil prices pulled back on Tuesday as diplomatic signals raised hopes the Iran conflict may wind down. Brent crude briefly traded below $100 for the first time since the escalation began. For Portugal, which imports virtually all of its fossil fuels, any sustained decline in oil prices would ease pressure on inflation — currently at 2.7% — and reduce the need for further government fuel subsidies. (Source: Bloomberg)

Urbanisation Law Reform Awaits Presidential Promulgation

The government's revision of the legal framework for urbanisation and building — aimed at streamlining construction permits with "clearer rules, more predictable procedures and shorter timeframes" — is awaiting promulgation by President Seguro. PM Montenegro described the reform as essential: "less time means more homes available to the Portuguese, lower costs for those who build and better prospects for those who buy or rent." (Source: Euronews/government press release)