The PSI index ended August at 9,437.2 points, after a monthly rise of 3.5%, driven mainly by Galp and by a generally positive evolution among the Portuguese listed companies. Since the beginning of the year, the index accumulates a gain of 14.2% compared to the close of December 31, 2025, while the year-on-year variation compared to August 2025 was 21.6%. Maxyield notes that the Portuguese index recorded the highest monthly closing value of 2026 at the end of August.
Galp was the listed company with the best performance in August, advancing 8.7%, followed by Ibersol (7.2%), CTT (6.4%) and Corticeira Amorim (6%). In the opposite direction, Teixeira Duarte fell 2.7%, Sonae retreated 1.7%, Altri lost 1% and Navigator declined 0.4%. Twelve of the 16 companies in the index showed positive evolution in the month.
The monthly evolution of the PSI was above that recorded by the global MSCI World index, which gained 2.4% in August, and the European STOXX 600, which advanced only 0.3%. However, the PSI remains below the Spanish, Italian and Polish stock exchanges in cumulative terms.
The rise occurred in a context of lower liquidity, with the average daily value traded falling 16% in August compared to July. Maxyield also warns about the increase in short selling positions in several listed companies. Despite the stock market gain, the profits of the 15 PSI companies with known results grew 13.3% year-on-year. The association considers, however, that the P/E ratio of the index, situated around 20.8, is historically elevated.
