Portugal's PSI Index Declines 1.16% on Sector Losses

PSI Index Sees Broad-Based Decline

The main benchmark for the Portuguese stock market, the PSI index, concluded Thursday's trading session with a significant drop, falling 1.16%. The downturn was driven by widespread losses across several key industries.

Sector Performance Overview

The decline was primarily led by poor performance in the Financials, Consumer Services, and Utilities sectors. Market sentiment was largely negative, with falling stocks outnumbering advancing ones on the Lisbon Stock Exchange by a ratio of 17 to 8, while 5 stocks remained unchanged.

Movers and Shakers

Among the worst performers was Banco Comercial Portugues, which saw its shares fall by 3.65%. Jeronimo Martins SGPS SA also experienced a notable decline of 2.31%. In contrast, CTT Correios de Portugal SA was a top performer, rising 1.84%. Ibersol SGPS also added 0.47%, reaching a new 5-year high.

Market Summary

The broad-based decline across major sectors indicates cautious investor sentiment. While a few individual stocks showed resilience, the overall market trend was decisively negative, reflecting pressures within Portugal's key economic sectors.

FAQ

Q: What was the main reason for the Portuguese market's decline?
A: The decline was primarily caused by significant losses in the Financials, Consumer Services, and Utilities sectors.

Q: Which stock was the worst performer on the PSI index?
A: Banco Comercial Portugues was the session's worst performer, with its stock price falling by 3.65%.

Source: Investing.com