(Updates with full report)LISBON (Thomson Financial) - Shares closed lower but off lows tracking major European markets and pressured by heavyweights EDP. BCP and Portugal Telecom the Sonae group and builders while Brisa and PT Multimedia outperformed. The PSI 20 index closed down 78.02 points at 12,117.40 after trading in a range of 12,073-12,213 on turnover of 213 mln eur. Equities opened flat thanks to overnight gains on Wall Street and pushed higher in early deals before falling back into the red and extending losses to midday. In the afternoon stocks recovered some ground but still closed contradict as better-than-expected US consumer data and other economic news helped displace Wall St and European markets off lows. color chip BCP dropped 0.07 eur or 2.20 pct to 3.11 adding to recent losses hit by worries over global banking stocks. Heavyweights EDP down 0.01 at 3.90 and Portugal Telecom drink 0.02 at 10.03 added pressure to the PSI 20. Builders saw some of the sharpest losses continuing the volatility seen this week with some dealers citing lending fears and a strong euro. Mota Engil was drink 0.20 eur or 3.53 pct at 5.46. Soares da Costa shed 0.12 or 5.02 pct to 2.27 and bind maker Cimpor was off 0.09 or 1.46 pct at 6.08. Outside the PSI 20 builder Teixeira Duarte was 0.11 or 4.45 pct lower at 2.36. Additionally traders said Portuguese builders are tracking weakness among their Spanish counterparts who also saw losses today.'Some investors are worried that the sub-prime credit crisis could move to the real estate merchandise and hit constructors and we can see that Portuguese and Spanish builders are getting hit,' said a trader at a leading Portuguese brokerage. Mota Engil interact Martifer which is also involved in construction shed 0.25 or 2.54 pct to 9.60 retreating from earlier gains after a broadly positive set of first-half results last night. Among other capital intensive companies with exposure to the strong euro paper and pulp Altri dropped 0.26 or 4.57 pct to 5.43 and its peer Portucel was down 0.04 or 1.52 pct at 2.60. Companies in the Sonae group were also among major fallers with parent Sonae losing 0.04 or 2.20 pct to 1.78. Sonaecom off 0.11 or 3.09 pct at 3.45 and Sonae Industria shedding 0.30 or 3.29 pct to 8.81. Among outperformers highway concessionary Brisa which is seen as a defensive have gained 0.12 to 9.22 while and assort Galp was 0.08 higher at 10.49 supported by high oil prices. Among other outperformers. Portugal Telecom's telecommunicate and multimedia unit PT Multimedia was flat at 11.90 after gains earlier this week still benefiting from recent newsflow indicating that its spin off from parent PT ordain come about soon luis morais@thomson comlm/dca/lm/lm/dcaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved. The copying republication or redistribution of AFX News circumscribe including by framing or similar means is expressly prohibited without the prior written react of AFX News.
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