Portugal's stock market finished lower on Thursday as sector-specific weakness pushed the PSI down to a new one-month low.
At the closing bell in Lisbon the PSI fell 0.88%, led by declines in the Utilities, Telecoms and Technology segments that weighed on the broader index.
Among individual names, Teixeira Duarte (ELI:TDSA) was the session's top performer, rising 1.72% - or 0.01 points - to close at 0.41. Mota Engil SGPS SA (ELI:MOTA) advanced 1.65% or 0.07 points to finish at 4.56, while CTT Correios de Portugal SA (ELI:CTT) gained 0.85% or 0.05 points to end the day at 5.96.
On the downside, EDP Renovaveis (ELI:EDPR) led losses, sliding 2.89% or 0.42 points to close at 14.12. EDP Energias de Portugal SA (ELI:EDP) declined 2.02% or 0.09 points to finish at 4.37, and Nos SGPS SA (ELI:NOS) fell 1.89% or 0.10 points to end the session at 4.99.
Market breadth in Lisbon favored falling issues: 16 stocks declined, 10 rose and 3 finished unchanged.
Commodities and currencies showed mixed moves during the session. Brent for August delivery lost 2.87% - down $2.81 - settling at $95.00 a barrel. US crude for July delivery fell 3.24% or $3.11 to $92.91 a barrel. By contrast, the August Gold Futures contract climbed 0.86% or $38.47 to trade at $4,505.37 a troy ounce.
In foreign exchange trading, EUR/USD was unchanged 0.25% to 1.16, while EUR/GBP was unchanged 0.10% to 0.87. The US Dollar Index Futures was down 0.21% at 99.29.
This session’s moves reflect concentrated selling pressure in energy-related renewables and large utilities, and pressure in telecoms and technology names, while select construction and postal services stocks posted gains. The net result was a modest but notable drop in the PSI into one-month low territory.