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Portugal's PSI Index Closes Down 0.52% on Weakness in Utilities and Financials
Summary
Portugal's benchmark PSI stock index fell 0.52% on Thursday, dragged lower by losses in the Utilities, Financials, and Telecoms sectors. EDP Renovaveis was among the top decliners, while retailer Jeronimo Martins led the few gainers.
Portugal's benchmark stock index, the PSI, ended Thursday's trading session in negative territory, weighed down by broad-based losses across several key sectors. The index fell 0.52% at the close of trade in Lisbon, according to market data.
Sector-Wide Declines Drive Market Lower
The downward pressure on the market was primarily driven by weakness in the Utilities, Financials, and Telecoms sectors. The negative sentiment was reflected in the market's breadth, with 17 stocks on the Lisbon Stock Exchange falling while only 8 advanced. Five constituents ended the session unchanged.
Index Movers
Several major utility and energy companies were among the day's worst performers, contributing significantly to the index's decline. However, a handful of companies bucked the negative trend to post gains.
AdTop Decliners
- EDP Renovaveis (ELI:EDPR) was the worst-performing stock on the index, falling 1.49% to close at 13.84.
- EDP Energias de Portugal SA (ELI:EDP) declined 1.31% to finish at 4.52.
- Ren Redes Energeticas Nacionais SGPS SA (ELI:RENE) was down 1.10%, ending the day at 3.60.
Notable Gainers
- Jeronimo Martins SGPS SA (ELI:JMT) led the advancers, rising 1.66% to 16.49.
- Corticeira Amorim (ELI:CORA) added 1.41% to close at 6.48.
- CTT Correios de Portugal SA (ELI:CTT) gained 1.40%, ending the session at 5.79.
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