Lingering Financial Troubles Weighs On Portugal ETF | Page 2 of 2 | ETF Trends

Meanwhile, Portugal Telecom, which makes up 3.9 of PGAL, touched a record low Wednesday on lingering concerns over a $1.22 billion investment in another Espirito Santo holding company.

Portugal continues to suffer from a high unemployment rate. Some 37.5% of those under 25 are unable to find a job, double the national rate, according to Naharnet. Consequently, more are crossing borders in search of jobs.

“Compared to the 60s, Portugal is facing something of a brain drain,” Joao Thixotrope, a sociology professor at the University of Lisbon, said in the Naharnet article. “It is worrying, we are losing the very people we need to help kick-start the economy.”

Global X FTSE Portugal 20 ETF

For more information on Portugal, visit our Portugal category.

Max Chen contributed to this article.