Portugal's stock market closed in positive territory on Tuesday, with the PSI up 0.90% at the end of trading in Lisbon and registering a fresh five-year high. The advance was driven by sector-level strength in Financials, Consumer Goods and Technology, which collectively pushed the benchmark higher.
Among individual movers, Banco Comercial Portugues (ELI:BCP) was the session's top performer on the PSI, climbing 1.93% - a 0.02-point rise - to finish at 0.92. Ibersol SGPS (ELI:IBS) also posted a strong session, adding 1.90% or 0.20 points to close at 10.70. Energy name Galp Energia Nom (ELI:GALP) rose 1.31%, gaining 0.21 points to end the day at 15.91.
On the other side of the tape, Corticeira Amorim (ELI:CORA) fell 1.03% or 0.07 points to close at 6.75, making it the weakest performer among the PSI constituents. Altri SGPS SA (ELI:ALSS) declined 0.78%, down 0.04 points to 4.47, while The Navigator Company SA (ELI:NVGR) slipped 0.56% or 0.02 points to 3.22.
Market breadth in Lisbon favored advances: rising stocks outnumbered decliners by 20 to 7, with 3 names finishing unchanged.
The session repeated the observation that shares in Banco Comercial Portugues and Ibersol SGPS reached five-year highs, with BCP gaining 1.93% or 0.02 to 0.92 and IBS up 1.90% or 0.20 to 10.70.
Commodities and currencies moved alongside equities. Brent oil for April delivery increased 2.07% or 1.34 to $66.11 a barrel, and U.S. crude for March delivery rose 2.29% or 1.39 to $62.02 a barrel. Precious metals were softer, with the April Gold Futures contract down 0.09% or 4.85 to trade at $5,117.45 a troy ounce.
In foreign exchange trading, EUR/USD was up 0.79% to 1.20, while EUR/GBP was reported unchanged 0.09% to 0.87. The U.S. Dollar Index Futures fell 0.79% to 96.10.
Summary of market action - Lisbon saw sector-led gains push the PSI to a five-year peak, with select financial and consumer names leading the rally while a handful of industrial and materials stocks moved lower. Commodity and currency shifts accompanied the equity move.
Key points
- PSI rose 0.90% to a new five-year high, supported by Financials, Consumer Goods and Technology sectors.
- Top PSI performers included Banco Comercial Portugues (+1.93% to 0.92) and Ibersol SGPS (+1.90% to 10.70); Galp Energia Nom added 1.31% to 15.91.
- Notable laggards were Corticeira Amorim (-1.03% to 6.75), Altri SGPS (-0.78% to 4.47) and The Navigator Company (-0.56% to 3.22). Commodity and FX moves were mixed, with Brent and crude higher and gold lower.
Risks and uncertainties
- Commodity-price volatility - Brent and U.S. crude both moved higher, while gold fell, indicating potential cross-market volatility that can affect energy and materials sectors.
- Currency fluctuations - Movements in EUR/USD and EUR/GBP and a weaker U.S. Dollar Index Futures can influence export-oriented companies and import costs.
- Concentrated sector exposure - The day's gains were led by Financials, Consumer Goods and Technology; sector-specific reversals could weigh on the PSI if leadership shifts.