Cofina Jumps Ahead of PSI-20 Index Membership: Lisbon Mover

Cofina SGPS SA (CFN), a Portuguese newspaper publisher, advanced the most in more than seven years in Lisbon trading on an announcement that it will join the country’s benchmark stock index.

The stock climbed 8 euro cents, or 22 percent, to 44 cents, the biggest jump since February 2005. The stock has dropped 42 percent this year, giving Cofina a market value of 45 million euros ($56 million).

The NYSE Euronext Lisbon exchange announced the quarterly review of the PSI-20 index after the close of trading yesterday. The changes to index membership take effect on Sept. 24.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.