Portugal stocks higher at close of trade; PSI up 1.37%

Portugal's stock market saw an increase at the close of trade on Thursday, with the PSI rising by 1.37% to achieve a new 5-year high. The Utilities, Telecoms and Financials sectors contributed to the overall positive performance. Among the top gainers, EDP Renovaveis (ELI:EDPR) saw a 2.16% increase, pushing its share price to 12.79, while EDP Energias de Portugal SA (ELI:EDP) and Nos SGPS SA (ELI:NOS) rose by 2.15% and 1.85% respectively, reaching 4.85 and 5.51.

Conversely, Teixeira Duarte (ELI:TDSA) remained unchanged at 0.48, alongside Corticeira Amorim (ELI:CORA), which added 0.57% to its 7.05, and Galp Energia Nom (ELI:GALP), which gained 0.78% to close at 22.05. The number of rising stocks exceeded the number of declining ones on the Lisbon Stock Exchange by a ratio of 22:3, with 7 stocks ending unchanged.

EDP Energias de Portugal SA (ELI:EDP) shares hit a 3-year high, surging 2.15% to 4.85. In other commodities news, Brent oil for November delivery dropped 2.46% to $103.23, whereas Crude oil for October delivery declined by 1.59% to $100.80, and December Gold Futures climbed by 0.48% to $4,408.75. Exchange rates remained stable, with EUR/USD, EUR/GBP, and the US Dollar Index Futures unchanged by 0.10%, 0.40%, and 0.00% respectively.