Lisbon - Portugal's benchmark PSI index finished the trading day down 0.04% after a session in which declines among Financials, Basic Materials and Industrials outweighed advances.
At the close, the PSI registered a small fall as market breadth tilted to the downside: 19 stocks finished lower, 7 advanced and 5 were unchanged on the Lisbon exchange.
The session's top performer was Galp Energia Nom (ELI:GALP), which jumped 7.27% - an increase of 1.33 points - to close at 19.55. Renewable-focused EDP Renovaveis (ELI:EDPR) gained 1.12% or 0.15 points to finish at 13.51, and EDP Energias de Portugal SA (ELI:EDP) rose 0.62% or 0.03 points to close at 4.54.
On the downside, Semapa (ELI:SEM) led losses with a 3.16% decline, down 0.75 points to end the day at 23.00. The Navigator Company SA (ELI:NVGR) slipped 2.97% or 0.10 points to close at 3.33, while Banco Comercial Portugues (ELI:BCP) fell 2.96% or 0.03 points to 0.87.
Two notable highs were recorded during the session: shares of Galp Energia Nom (ELI:GALP) rose to a 52-week high, advancing 7.27% or 1.33 to 19.55, and EDP Energias de Portugal SA (ELI:EDP) also reached a 52-week high, increasing 0.62% or 0.03 to 4.54.
Commodity markets showed pronounced strength. Brent oil for May delivery climbed 5.93% or 4.32 to $77.19 a barrel. Light crude for April delivery increased 5.46% or 3.66 to $70.68 a barrel. April Gold Futures were up 1.36% or 71.11 to trade at $5,319.01 a troy ounce.
Currency markets moved alongside the commodity and equity shifts. EUR/USD was down 1.01% to 1.17, while EUR/GBP was reported unchanged 0.38% to 0.87. The US Dollar Index Futures strengthened 0.99% to 98.53.
Key points
- PSI closed down 0.04% as Financials, Basic Materials and Industrials led declines.
- Galp Energia Nom (ELI:GALP) was the session leader with a 7.27% gain and reached a 52-week high; EDP Renovaveis (ELI:EDPR) and EDP (ELI:EDP) also posted gains.
- Semapa (ELI:SEM), Navigator (ELI:NVGR) and Banco Comercial Portugues (ELI:BCP) were among the largest decliners.
Risks and uncertainties
- Sector concentration of today’s losses - Financials, Basic Materials and Industrials - increases near-term downside risk for the PSI if selling persists.
- Volatility in commodity prices, evidenced by sharp moves in Brent, crude and gold, can amplify market swings and affect energy and materials companies’ valuations.
- Currency moves, including a weaker euro and stronger dollar, may influence exporters and importers, adding uncertainty for companies with significant foreign currency exposure.
This report reflects the closing prices and intraday highs and lows recorded on the trading session described above.