Portugal’s stock market posted its strongest annual performance since 2009, driving an aggregate increase of more than €2.5 billion in the value of the country’s largest stock-market fortunes. Broad gains across most listed shares lifted prominent families — notably the Azevedo family — and highlighted the market’s role as an economic indicator for investors and expats. The move suggests improved investor confidence and greater wealth concentration among major shareholders, with implications for portfolio strategies and domestic capital flows in 2025.