Portugal’s PSI index rises 0.68% to close higher

Portugal’s PSI index closed 0.68% higher on Tuesday, with gains led by the materials and utilities sectors, while financials lagged.

The index, which tracks the performance of the 18 largest listed companies on Euronext Lisbon, added 12.4 points to finish at 1,845.7, according to provisional data from the exchange. Materials stocks, including mining and chemicals firms, were the primary drivers of the advance, while banks and insurers weighed on the benchmark.

Trading volume totaled 42.3 million euros, below the 30-day average of 51.8 million euros, reflecting subdued investor activity. The broader European market sentiment remained cautious amid mixed economic data and lingering concerns over inflation and growth prospects.

The PSI’s performance mirrored modest gains in other southern European markets, with Spain’s IBEX 35 and Italy’s FTSE MIB also closing higher. In contrast, Germany’s DAX and France’s CAC 40 ended the session slightly lower, as investors balanced corporate earnings against macroeconomic headwinds.

Analysts attributed the PSI’s rise to a rebound in commodity prices and a weaker euro, which supported exporters in the materials sector. However, they noted that the index’s limited upside underscored broader uncertainty in the region’s equity markets.