Stock Markets March 23, 2026

Lisbon market edges up as PSI gains 0.25% led by industrials and financials

Mota Engil, Sonae and CTT top the session while energy and renewables pull back; oil and gold see notable declines

By Ajmal Hussain
Lisbon market edges up as PSI gains 0.25% led by industrials and financials

Portugal's PSI 20 closed higher, rising 0.25%, supported by advances in Industrials, Financials and Basic Materials. Mota Engil, Sonae and CTT led gains, while Galp Energia, Ren and EDP Renovaveis were among the laggards. Commodity markets moved sharply lower with Brent and U.S. crude down and June gold futures falling, while major FX pairs showed modest movement.

Key Points

  • Portugal's PSI closed up 0.25%, supported by gains in Industrials, Financials and Basic Materials sectors.
  • Top gainers included Mota Engil (up 5.88%), Sonae (up 5.63%) and CTT (up 4.54%); energy and renewables names such as Galp, Ren and EDP Renovaveis underperformed.
  • Commodity prices declined notably with Brent and U.S. crude down by 8.58% and 8.78% respectively, and June gold futures falling 3.81%.

Portugal's stock index finished Monday's trading in positive territory, with the benchmark PSI rising 0.25% at the close in Lisbon. Sector strength in Industrials, Financials and Basic Materials underpinned the advance across the exchange.

The session's best-performing names included Mota Engil SGPS SA (ELI:MOTA), which climbed 5.88% - equal to a gain of 0.24 points - to finish at 4.29. Sonae SGPS SA (ELI:YSO) added 5.63% or 0.10 points to close at 1.84, while CTT Correios de Portugal SA (ELI:CTT) rose 4.54% or 0.26 points to end the day at 5.99.

On the downside, Galp Energia Nom (ELI:GALP) was the weakest stock in the session, falling 4.74% or 1.01 points to close at 20.31. Ren Redes Energeticas Nacionais SGPS SA (ELI:RENE) declined 1.86% or 0.07 points to finish at 3.70, and EDP Renovaveis (ELI:EDPR) slipped 1.54% or 0.20 points to 12.75.

Market breadth in Lisbon favored gainers, with 16 stocks rising compared with 8 that fell, while 6 shares finished unchanged.


Commodity markets displayed pronounced moves during the trading session. Brent oil for June delivery fell 8.58% or 9.13 to $97.28 a barrel. U.S. crude oil for May delivery dropped 8.78% or 8.62 to $89.61 a barrel. Precious metals also moved lower: the June Gold Futures contract fell 3.81% or 175.85 to trade at $4,433.75 a troy ounce.

Foreign exchange and dollar benchmarks showed modest shifts. EUR/USD was unchanged 0.16% to 1.16, while EUR/GBP was unchanged 0.27% to 0.87. The US Dollar Index Futures was down 0.44% at 99.02.


Taken together, the session reflected selective strength among industrial and retail-oriented names, contrasted with weakness in energy and renewable-related stocks. Commodities moved sharply lower, a dynamic that coincided with underperformance in certain energy-sector equities on the PSI.

Risks

  • Sharp declines in oil prices - Brent and U.S. crude fell over 8% each - may exert continued pressure on energy-sector stocks such as Galp Energia, affecting sector performance.
  • Volatility in commodities and the noted moves in gold introduce uncertainty for basic materials and commodity-linked companies on the PSI.
  • Mixed breadth - while advancers outnumbered decliners, the limited number of stocks driving the index could increase sensitivity to individual company moves, particularly in Industrials and Financials.

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