Portugal's stock market closed higher on Monday as sector gains in Utilities, Financials and Industrials pushed the PSI up by 0.72% at the Lisbon close. Market participants saw a mix of strong individual stock performances and broader commodity price weakness during the session.
Top and bottom movers
The session's largest winner on the PSI was Teixeira Duarte (TDSA), which climbed 6.24% - a gain of 0.03 points - to finish at 0.53. EDP Renovaveis (EDPR) added 2.19%, advancing 0.30 points to close at 13.97, while Sonae SGPS SA (YSO) rose 1.42%, or 0.03 points, to 1.99 by the end of trading.
On the downside, Jeronimo Martins SGPS SA (JMT) fell 1.09%, losing 0.19 points to end at 17.22. CTT Correios de Portugal SA (CTT) declined 1.00%, or 0.06 points, to close at 5.96, and The Navigator Company SA (NVGR) slipped 0.92%, or 0.03 points, to 3.45.
Market breadth and notable levels
On the Lisbon Stock Exchange, advancing issues outnumbered decliners by 14 to 12, while 5 stocks finished unchanged. Shares of Jeronimo Martins reached 52-week lows in the session, closing down 1.09% at 17.22.
Commodities and currencies
Commodity markets showed notable weakness. Brent oil for September delivery fell 3.36%, down $2.69, to $77.36 a barrel. U.S. crude for August delivery dropped 2.97%, or $2.25, to $73.60 a barrel. In metals, the August Gold Futures contract declined 1.17%, a move of $49.81, to trade at $4,196.09 a troy ounce.
On the currency front, EUR/USD was effectively unchanged at 1.14, registering a 0.34% move, while EUR/GBP recorded a 0.43% move, finishing at 0.86. The US Dollar Index Futures was up 0.17% at 100.79.
Session wrap
Overall, the PSI closed higher by 0.72% as several large-cap names contributed to the advance. Commodity weakness, particularly in oil and gold contracts, contrasted with the equity gains recorded on the Lisbon exchange.