Stock Markets March 12, 2026

Lisbon Market Climbs as Utilities, Consumer Services and Telecoms Lead PSI Higher

PSI rises 0.83% as select energy and retail names post gains amid notable commodity moves

By Derek Hwang
Lisbon Market Climbs as Utilities, Consumer Services and Telecoms Lead PSI Higher

Portugal's PSI index closed higher, up 0.83%, driven by advances in Utilities, Consumer Services and Telecoms. EDP Renovaveis, Jeronimo Martins and Galp Energia were among the top performers, while Teixeira Duarte, Mota Engil and Banco Comercial Portugues underperformed. Commodity markets saw sharp moves in oil and a drop in gold, while major currency pairs were largely stable.

Key Points

  • PSI closed up 0.83% as Utilities, Consumer Services and Telecoms led sector gains.
  • Top individual gains: EDP Renovaveis +3.31% (13.42), Jeronimo Martins +2.69% (22.18), Galp Energia +2.34% (20.58) - Galp reached an all-time high.
  • Largest declines: Teixeira Duarte -4.82% (0.45), Mota Engil -4.81% (4.55), Banco Comercial Portugues -3.34% (0.80).

Portugal's main equity gauge finished the trading session in Lisbon higher on Thursday, with the PSI up 0.83% at the close. Gains were concentrated in Utilities, Consumer Services and Telecoms, which helped tip the index into positive territory by the end of the day.

The session's leading individual performer on the PSI was EDP Renovaveis (ELI:EDPR), which advanced 3.31% - adding 0.43 points to finish at 13.42. Consumer retail heavyweight Jeronimo Martins SGPS SA (ELI:JMT) also recorded a strong result, rising 2.69% or 0.58 points to close at 22.18. Energy group Galp Energia Nom (ELI:GALP) improved 2.34%, up 0.47 points to 20.58 in late trade.

On the downside, Teixeira Duarte (ELI:TDSA) fell 4.82% or 0.02 points, ending the session at 0.45. Construction and engineering name Mota Engil SGPS SA (ELI:MOTA) dropped 4.81% or 0.23 points to close at 4.55. Banking stock Banco Comercial Portugues (ELI:BCP) declined 3.34%, losing 0.03 points to finish at 0.80.

Market breadth at the Lisbon Stock Exchange showed more winners than losers: 17 stocks advanced, 10 declined and 4 finished unchanged.

Shares of Galp Energia Nom (ELI:GALP) reached an all-time high during the session, closing at 20.58 after the 2.34% increase.


Commodities experienced marked moves during the same trading window. Brent oil for May delivery rose 8.34%, gaining 7.67 to trade at $99.65 a barrel. U.S. crude for April delivery climbed 9.00%, up 7.85 to $95.10 a barrel. In contrast, the April Gold Futures contract declined 0.93%, a drop of 47.91, settling at $5,131.19 a troy ounce.

On the currency front, EUR/USD was reported as unchanged 0.35% at 1.15, while EUR/GBP was unchanged 0.07% at 0.86. The US Dollar Index Futures traded higher, up 0.41% at 99.63.


These moves left sectors tied to energy and consumer services with notable upside, while construction and banking-related names recorded the session's steepest declines. The trading day combined equity gains in selected sectors with pronounced volatility in commodity markets and modest shifts in major currency rates.

Risks

  • Significant commodity price swings - large moves in Brent and U.S. crude could increase volatility for energy-related equities.
  • Sector-specific weakness - sharp declines in construction and engineering names may pressure that segment of the market.
  • Market sensitivity to currency and rate moves - shifts in the US Dollar Index Futures and FX pairs could affect exporters and import-dependent firms.

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