Stock Markets February 23, 2026

Portugal's PSI Closes at Five-Year Peak as Consumer Services, Telecoms and Financials Rally

Lisbon market posts broad-based gains with NOS, Jeronimo Martins and Mota Engil among top performers; commodities and FX show mixed moves

By Leila Farooq
Portugal's PSI Closes at Five-Year Peak as Consumer Services, Telecoms and Financials Rally

Portugal's main stock index, the PSI, ended Monday's session higher, advancing 1.71% to reach a new five-year high. Strength in the Consumer Services, Telecoms and Financials sectors supported the advance, with notable gains from Nos SGPS, Jeronimo Martins and Mota Engil. Market breadth favored advancers, while select names recorded small declines or no change. Commodities and currency markets exhibited modest movement alongside the equity gains.

Key Points

  • The PSI closed up 1.71% in Lisbon, reaching a new five-year high, driven by gains in Consumer Services, Telecoms and Financials.
  • Top individual gainers included Nos SGPS (ELI:NOS) up 4.27% to 5.01, Jeronimo Martins (ELI:JMT) up 4.15% to 22.10, and Mota Engil (ELI:MOTA) up 3.35% to 5.25.
  • Market breadth favored advancing issues, with 20 stocks rising, 7 falling and 5 unchanged; commodities and FX showed mixed, modest movements.

Portugal's stock market finished the day in positive territory on Monday, with the PSI up 1.71% to close at a five-year high in Lisbon. Sector gains in Consumer Services, Telecoms and Financials underpinned the stronger finish, driving a broad advance across the exchange.

At the close, Nos SGPS SA (ELI:NOS) led the winners on the PSI, jumping 4.27% - a rise of 0.21 points - to finish at 5.01. The stock reached a five-year high during the session. Jeronimo Martins SGPS SA (ELI:JMT) also posted a strong performance, adding 4.15% or 0.88 points to end at 22.10. Mota Engil SGPS SA (ELI:MOTA) rounded out the top performing trio, climbing 3.35% or 0.17 points to 5.25 by late trade.

Not all stocks moved higher: Corticeira Amorim (ELI:CORA) dipped 0.14% or 0.01 points to close at 6.90, while Teixeira Duarte (ELI:TDSA) was unchanged at 0.52, recording a 0.00% change. Altri SGPS SA (ELI:ALSS) edged up 0.21% or 0.01 to finish at 4.79.

Market breadth in Lisbon favored advancing names, with 20 shares rising against 7 that fell and 5 that ended the session unchanged. The data highlight a broadly positive session for Portuguese equities, concentrated in the sectors noted above.

Commodities traded with mixed results. Brent oil for May delivery slipped 0.22% or 0.16 to settle at $71.14 a barrel. U.S. crude for April delivery fell 0.23% or 0.15 to $66.33 a barrel. Gold futures for April rose 2.97% or 150.84, trading at $5,231.74 a troy ounce.

Currency markets showed modest movement. EUR/USD was reported unchanged at 1.18 (0.22%), and EUR/GBP remained steady at 0.87 (0.06%). The US Dollar Index Futures declined 0.24% to 97.49.

Investors saw the session as one marked by selective strength among blue-chip names and sectoral leadership from consumer, telecom and financial companies, while commodity and currency markets registered only modest intraday shifts.


Note on research and tools: Some market platforms highlight premium research offerings that combine institutional-grade data with enhanced analytical insights to support investment decision-making. Such services aim to help investors identify opportunities, though they do not guarantee outcomes.

Risks

  • Selective weakness among certain names - some stocks fell or were unchanged, indicating the rally was not uniform across all sectors (impacts equity investors and sector-specific strategies).
  • Commodity price fluctuations, such as declines in Brent and U.S. crude and a sharp rise in April gold futures, could introduce volatility for resource-linked equities and portfolios (impacts commodity-sensitive sectors).
  • Modest movements in currency markets and a decline in the US Dollar Index Futures may affect exporters and firms with material currency exposure (impacts companies sensitive to EUR/USD and USD strength).

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