Hi,
Yes, exercise, adrenalin and stress (both good and bad types) can raise BG.
But it isn't always that simple...
With exercise, results vary.
Often steady exercise (eg walking) will lower BG - good for an after dinner walk
While heavy exercise will often raise BG in the short term. Once the initial glow fades, the BG usually goes lower again.
Both types of exercise usually have a lowering effect over the next few hours or day.
The more muscle we have, and the more we use that muscle, the better it is for our BG levels.