Sonae rises on 'robust' Q1 results, despite macro uncertainties

** Shares of Sonae SON gain around 7%, at a 7-year high, after the Portuguese conglomerate on Wednesday met market expectations in its Q1 results, despite the macroeconomic turmoil

** The owner of Portugal's largest food retailer reported net sales of 2.55 billion euros ($2.89 billion), a 22.5% increase year-on-year, driven by the organic growth of its food retail unit MC

** The results were broadly in line with estimates, says CaixaBI analyst

** "Q1 2025 was marked by macroeconomic disruptions and uncertainties, therefore, the operational performance achieved by Sonae’s core segments reflect the robustness of the company's operational strategy, particularly MC", says the broker

** Shares are on track for their best day in 15 years

** The stock is at the top of Lisbon's blue-chip PSI index PPSI20

($1 = 0.8829 euros)