Portugal's equity market closed in positive territory on Monday, with sector strength in Telecoms, Utilities and Consumer Services supporting the advance.
At the Lisbon close, the PSI20 was up 0.30%.
The session's top performers on the PSI20 included Galp Energia Nom (GALP), which climbed 1.48% - gaining 0.29 points to finish at 19.86. Telecommunications firm Nos SGPS SA (NOS) added 1.18% or 0.06 points to end the session at 4.97, and EDP Energias de Portugal SA (EDP) rose 0.98% or 0.04 points to close at 4.51.
On the downside, The Navigator Company SA (NVGR) was the weakest name, falling 3.73% or 0.12 points to 3.15 at the close. Restaurant operator Ibersol SGPS (IBS) declined 2.99% or 0.28 points to 9.10, and postal services group CTT Correios de Portugal SA (CTT) slipped 1.29% or 0.08 points to 5.73.
Market breadth on the Lisbon exchange showed advancing issues outnumbered decliners by 16 to 11, while four stocks finished unchanged.
Two companies hit 52-week lows during the session. Shares of Ibersol SGPS (IBS) fell to their 52-week trough, closing at 9.10 after a 2.99% drop. CTT Correios de Portugal SA (CTT) also reached a 52-week low, down 1.29% to 5.73.
Commodities saw marked moves in parallel markets. Brent crude for September delivery increased 4.92% - up $3.74 - to $79.75 a barrel. U.S. crude for August delivery rose 4.89% or $3.49 to $74.90 a barrel. In contrast, the August Gold Futures contract fell 2.24% - a decrease of $92.25 - to trade at $4,021.45 a troy ounce.
In currency and futures markets, the euro was little changed. EUR/USD was virtually flat, moving 0.11% to 1.14, while EUR/GBP was effectively unchanged at 0.85, a 0.08% move. The US Dollar Index Futures was trading higher, up 0.17% at 100.92.
Market context and takeaway
The Lisbon session closed with a modest gain for the benchmark index, supported by pockets of strength in energy, telecoms and utilities names. Despite the overall uptick, several individual companies declined sharply and two reached 52-week lows, reflecting uneven performance across sectors.
Indices and movers noted in this report
- PSI20: +0.30%
- GALP: +1.48% (19.86)
- NOS: +1.18% (4.97)
- EDP: +0.98% (4.51)
- NVGR: -3.73% (3.15)
- IBS: -2.99% (9.10) - 52-week low
- CTT: -1.29% (5.73) - 52-week low
Commodities and FX
- Brent (Sept): $79.75 a barrel, +4.92%
- US crude (Aug): $74.90 a barrel, +4.89%
- Gold (Aug futures): $4,021.45 a troy ounce, -2.24%
- EUR/USD: 1.14, +0.11%
- EUR/GBP: 0.85, +0.08%
- US Dollar Index Futures: 100.92, +0.17%