Market close - Lisbon
Portugal's stock market finished lower on Thursday, with the PSI index slipping 0.22% at the close in Lisbon. Losses were concentrated in the Consumer Services, Telecoms and Technology sectors, which provided most of the downward pressure on the benchmark.
Leading and lagging names
The session's top performer on the PSI was EDP Renovaveis (ELI:EDPR), which gained 1.90% - an advance of 0.27 points - to finish at 14.46. Mota Engil SGPS SA (ELI:MOTA) added 1.19% or 0.06 points to close at 4.75, and Semapa (ELI:SEM) rose 1.09% or 0.25 points to end the day at 23.20.
On the downside, Sonae SGPS SA (ELI:YSO) led declines, falling 4.46% or 0.09 points to close at 1.89. Nos SGPS SA (ELI:NOS) declined 1.85% or 0.10 points to finish at 5.30 and Teixeira Duarte (ELI:TDSA) eased 0.94% - a move of 0.00 points in the reporting - to trade at 0.42 at the close.
Market internals
Advancers outnumbered decliners on the Lisbon Stock Exchange by 18 to 12, while 2 stocks finished unchanged. Despite a greater number of rising names, the weight of losses in the indicated sectors was sufficient to push the PSI into negative territory for the session.
Commodities and currencies
Commodity prices reflected strength in crude benchmarks. Brent oil for July delivery was up 1.32% or 1.39 to $106.41 a barrel. North American crude for July delivery rose 1.75% or 1.72 to $99.98 a barrel. Precious metals moved in the opposite direction, with the June Gold Futures contract falling 0.84% or 38.24 to trade at $4,519.76 a troy ounce.
In foreign exchange, EUR/USD was unchanged 0.33% to 1.16, while EUR/GBP was unchanged 0.05% to 0.86. The US Dollar Index Futures was higher by 0.27% at 99.38.
Outlook
Thursday's session left the PSI modestly lower, driven by sectoral weakness in Consumer Services, Telecoms and Technology even as several individual names advanced. Commodity and currency moves added market context heading into the next trading day.