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.
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