Portugal stocks higher at close of trade; PSI up 0.73%

Portugal's stock market closed higher on Friday, with the PSI (Ponto de Seta Indice) gaining 0.73% to reach a new five-year high. The Financials, Telecoms, and Consumer Services sectors drove the upward trend. Ibersol SGPS saw the biggest rise, soaring 4.41% to close at 10.42. Nos SGPS SA jumped 2.74% to 5.26, while Banco Comercial Portugues led the gains, climbing 2.32% to 1.19, marking a 5-year high.

Conversely, EDP Renovaveis fell 0.76% to 13.02, Semapa declined 0.24% to 20.60, and The Navigator Company dropped 0.19% to 3.24. The majority of stocks on the Lisbon Stock Exchange rose, outnumbering those that fell by 16 to 10, with five remaining unchanged. Banco Comercial Portugues' stock hit a five-year peak at 1.19. Meanwhile, Brent oil for November delivery slipped 2.06% to $105.41, and October crude oil dropped 2.46% to $99.96.

December Gold Futures rose slightly, up 0.03% to $4,408.57 per troy ounce. The EUR/USD exchange rate remained steady at 1.16, and EUR/GBP also held at 0.86. The US Dollar Index Futures gained 0.02% to 99.07.