Portugal stocks higher at close of trade; PSI up 0.59%

Lisbon: Portugal stocks were higher after the close on Wednesday, as gains in the Utilities, Consumer Services and Basic Materials sectors led shares higher.

At the close in Lisbon, the PSI gained 0.59%.

The best performers of the session on the PSI were EDP Renovaveis (ELI:EDPR), which rose 2.74% or 0.21 points to trade at 7.68 at the close. Meanwhile, Ibersol SGPS (ELI:IBS) added 2.09% or 0.18 points to end at 8.80 and EDP Energias de Portugal SA (ELI:EDP) was up 2.02% or 0.06 points to 3.24 in late trade.

The worst performers of the session were Banco Comercial Portugues (ELI:BCP), which fell 4.04% or 0.02 points to trade at 0.55 at the close. Corticeira Amorim (ELI:CORA) declined 0.94% or 0.07 points to end at 7.34 and Nos SGPS SA (ELI:NOS) was down 0.12% or 0.01 points to 4.10.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 15 to 9 and 1 ended unchanged.

Brent oil for June delivery was up 1.75% or 1.13 to $65.80 a barrel. Elsewhere in commodities trading, Crude oil for delivery in May rose 1.81% or 1.11 to hit $62.44 a barrel, while the June Gold Futures contract rose 3.18% or 102.89 to trade at $3,343.29 a troy ounce.

EUR/USD was up 0.92% to 1.14, while EUR/GBP rose 0.78% to 0.86.

The US Dollar Index Futures was down 0.78% at 99.18.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

With EDP making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro’s advanced AI algorithms have analyzed EDP alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including EDP, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is EDP poised for similar growth? Don’t miss the opportunity to find out.