“I took the opportunity to tell Chancellor Merkel that the Portuguese government has not yet taken a decision about when we will exit the programme,” Passos Coelho said, adding that the most important thing was that Portugal was discussing “how to exit rather than whether we need another programme.”
The Global X FTSE Portugal 20 ETF was launched in November 2013 and has accumulated $17.7 million in assets, with an average daily volume of about 17,600 shares. Investors interested in the ETF should use limit orders to better control trade executions.
PGAL has a heavy allocation toward utilities at 26.5%, followed by financials 18.8% and consumer staples 16.2%. It is also top heavy with a 19.9% weight in Energias de Portugal and 13.2% in Galp Energia SGPS. The ETF is up more than 13% this year.
Global X FTSE Portugal 20 ETF
For more information on Portugal, visit our Portugal category.
Max Chen contributed to this article.