Financial markets, PSI-20 performance, and investment news in Portugal.
Galp has ended talks with Spain's Moeve on merging their refining and fuel retail arms, so Sines stays with Galp. The same morning it reported adjusted (RCA) net income of 682 million euros for July to September, up 68 percent; IFRS net income was 201 million.
Bacalhau, the Santos Basin oil field in which Galp holds 20 percent, produced 25 million barrels in its first year. Equinor expects the full 220,000 barrels a day within 2026, and Galp reports third-quarter results on 26 October.
Decreto-Lei n.o 171/2026 rewrites the Securities Code from 1 September. The free float needed for a listing drops from 25 percent to 10, multiple-vote shares get a disclosure regime, and payment for order flow is banned outright.
Consolidated net profit came in at €12.1 million against nearly €43 million a year earlier, when a bank refinancing added a non-recurring €46.5 million. Turnover rose 25.1% to €401 million and EBITDA more than doubled to €58 million.
The world's largest sovereign wealth fund has never had more money in Portugal, with €2.4 billion spread across government bonds and blue-chip stocks led by EDP.
OnStrategy's 2026 ranking keeps EDP top at €3.16 billion, ahead of Galp and Jeronimo Martins. TAP posted the fastest growth at 28.5%, while CGD and Millennium bcp led a banking-sector surge of about 25%.
Portugal's largest builder is increasingly confident a Texas court will throw out the defamation suit brought by short-seller Muddy Waters — potentially on jurisdictional grounds, according to ECO reporting.
