Portugal's PSI Index Hits 5-Year High on Financial and Telecom Gains

Portugal's primary stock market index, the PSI, closed 0.73% higher on Friday, reaching a new five-year high. The advance was driven by broad gains across the Financials, Telecoms, and Consumer Services sectors, according to market data.

Session Highlights

The positive session on the Lisbon Stock Exchange saw rising stocks outnumber declining ones by a margin of 16 to 10, with five stocks ending the day unchanged. The gains pushed the benchmark index to its highest closing level in half a decade, signaling strong investor sentiment.

Among the session's top performers, several companies posted significant gains:

• Ibersol SGPS (ELI:IBS) surged 4.41% to close at 10.42.
• Nos SGPS SA (ELI:NOS), a major telecommunications provider, rose 2.74% to end the day at 5.26.
• Banco Comercial Portugues (ELI:BCP) gained 2.32% to finish at 1.19, with its shares also hitting a 5-year high.

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Key Movers

While the broader market advanced, some stocks faced downward pressure. The session's worst performers included renewable energy firm EDP Renovaveis (ELI:EDPR), which fell 0.76% to 13.02. It was followed by industrial conglomerate Semapa (ELI:SEM), down 0.24%, and paper producer The Navigator Company SA (ELI:NVGR), which dipped 0.19%.

In the commodities market, oil prices saw a notable decline. Brent crude for November delivery fell over 2%, while WTI Crude for October delivery dropped approximately 2.46%. Meanwhile, major currency pairs like EUR/USD and EUR/GBP remained largely unchanged.