Portugal's PSI Index Hits 5-Year High, Rises 1.40%

PSI Index Reaches Multi-Year Peak

Portugal's benchmark stock index, the PSI, concluded Tuesday's trading session with a significant gain of 1.40 percent. This upward movement propelled the index to a new five-year high, signaling strong investor confidence in the Lisbon market.

Broad Sector-Led Rally in Lisbon

The market rally was broad-based, with notable strength coming from key sectors. The Utilities, Telecommunications, and Basic Materials industries were the primary drivers behind the day's gains. Market breadth was positive, with 19 stocks advancing on the Lisbon Stock Exchange compared to only 6 decliners, while 3 remained unchanged.

Key Stock Performance Highlights

Among the top individual performers, EDP Renovaveis led the gains, rising 3.45 percent to close at 13.20. Following closely were Nos SGPS SA, which added 2.61 percent, and EDP Energias de Portugal SA, up 1.78 percent. In contrast, Teixeira Duarte was the session's worst performer, falling 1.67 percent.

Summary of Market Momentum

The strong performance, led by key blue-chip stocks and sector-wide gains, underscores a positive sentiment in the Portuguese market. The achievement of a new multi-year high suggests that momentum may continue as investors monitor ongoing economic indicators.

FAQ

Q: What was the closing gain for Portugal's PSI index?
A: The PSI index gained 1.40 percent to close at a new 5-year high.

Q: Which sectors led the market higher?
A: The Utilities, Telecommunications, and Basic Materials sectors were the primary drivers of the gains.

Q: Which company was the top-performing stock?
A: EDP Renovaveis was the session's best performer, with its shares rising by 3.45 percent.

Source: Investing.com