Portugal stocks lower at close of trade; PSI down 2.85%

Lisbon: Portugal stocks were lower after the close on Wednesday, as losses in the Industrials, Utilities and Telecoms sectors led shares lower.

At the close in Lisbon, the PSI declined 2.85% to hit a new 6-months low.

The best performers of the session on the PSI were Ibersol SGPS (ELI:IBS), which unchanged 0.00% or 0.00 points to trade at 8.54 at the close. Meanwhile, Ren Redes Energeticas Nacionais SGPS SA (ELI:RENE) fell 0.93% or 0.03 points to end at 2.67 and Jeronimo Martins SGPS SA (ELI:JMT) was down 0.95% or 0.19 points to 19.73 in late trade.

The worst performers of the session were Galp Energia Nom (ELI:GALP), which fell 5.98% or 0.79 points to trade at 12.42 at the close. CTT Correios de Portugal SA (ELI:CTT) declined 5.10% or 0.35 points to end at 6.51 and Mota Engil SGPS SA (ELI:MOTA) was down 4.51% or 0.14 points to 3.01.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 21 to 2 and 4 ended unchanged.

Shares in Galp Energia Nom (ELI:GALP) fell to 52-week lows; down 5.98% or 0.79 to 12.42.

Brent oil for June delivery was down 3.68% or 2.31 to $60.51 a barrel. Elsewhere in commodities trading, Crude oil for delivery in May fell 3.89% or 2.32 to hit $57.26 a barrel, while the June Gold Futures contract rose 3.66% or 109.55 to trade at $3,099.75 a troy ounce.

EUR/USD was up 0.63% to 1.10, while EUR/GBP rose 0.75% to 0.86. The US Dollar Index Futures was down 0.53% at 102.16.