Portugal's stock market closed lower on Thursday, with the PSI index finishing the session down 0.52% in Lisbon as pressures in the Utilities, Financials and Telecoms sectors contributed to the retreat.
At the closing bell, Jeronimo Martins SGPS SA (JMT) was the top performer on the PSI, rising 1.66% - an increase of 0.27 points - to finish at 16.49. Corticeira Amorim (CORA) and CTT Correios de Portugal SA (CTT) also posted gains, up 1.41% (0.09 points) to 6.48 and 1.40% (0.08 points) to 5.79, respectively.
On the downside, EDP Renovaveis (EDPR) led losses among the index constituents, falling 1.49% or 0.21 points to close at 13.84. EDP Energias de Portugal SA (EDP) declined 1.31% (0.06 points) to 4.52, while Ren Redes Energeticas Nacionais SGPS SA (RENE) slipped 1.10% or 0.04 points to end the session at 3.60.
Market breadth in Lisbon reflected the downward tilt: 17 stocks fell versus 8 that advanced, and 5 finished unchanged.
Commodities and currencies
Commodity prices moved modestly in global trading. Brent oil for September delivery was up 0.09%, or $0.08, to $85.03 a barrel. U.S. crude for August delivery rose 0.05%, or $0.04, to $79.64 a barrel. In metals, the August Gold Futures contract declined 1.22%, down $49.60, to trade at $4,002.20 a troy ounce.
Currency markets were comparatively stable: EUR/USD was unchanged 0.20% at 1.14, while EUR/GBP was unchanged 0.25% at 0.85. The US Dollar Index Futures traded higher, up 0.27% at 100.54.
Takeaways
- The PSI closed lower by 0.52% as sectoral losses in Utilities, Financials and Telecoms outweighed gains among select consumer and industrial names.
- Jeronimo Martins, Corticeira Amorim and CTT were the session's leaders, each posting gains above 1.3%.
- EDP Renovaveis, EDP and REN were the biggest decliners, each down more than 1%.
Market context and breadth
Decliners outnumbered advancers on the Lisbon exchange by 17 to 8, with 5 stocks unchanged, signaling a session dominated by selling pressure among a subset of the index. Movements in global commodity and currency markets were modest and did not show large directional shifts that might have overridden domestic sector trends.
Summary of key metrics cited
- PSI -0.52% at close
- JMT +1.66% to 16.49
- CORA +1.41% to 6.48
- CTT +1.40% to 5.79
- EDPR -1.49% to 13.84
- EDP -1.31% to 4.52
- RENE -1.10% to 3.60
- Brent (Sep) $85.03, +0.09%
- WTI Crude (Aug) $79.64, +0.05%
- Gold Futures (Aug) $4,002.20, -1.22%
- EUR/USD 1.14 (unchanged 0.20%)
- EUR/GBP 0.85 (unchanged 0.25%)
- US Dollar Index Futures 100.54, +0.27%
The session concluded with a clear tilt toward stocks in the Utilities and energy-related names moving lower, while selected retail and industrial names posted modest gains. The overall market move was accompanied by limited shifts in global commodities and currencies.