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Energias de Portugal (OTCMKTS:EDPFY - Get Free Report) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 11,648 shares, a drop of 36.4% from the July 30th total of 18,310 shares. Based on an average daily volume of 44,929 shares,

Electricity demand in Portugal is expected to grow at a 4.5% compound annual rate over the next decade, making it one of ​Europe's fastest-growing power markets, fuelled by a booming pipeline of data ‌centres, the CEO of utility EDP said on Thursday.

Portugal's largest utility EDP on Thursday upgraded its full-year recurring net profit guidance to €1.4 billion ($1.6 billion) from a ​previous forecast of between €1.2 billion and €1.3 billion made in ‌November, citing stronger performance in its networks business, improved hydro conditions in Iberia and robust gains from asset rotation.

Here is how Energias de Portugal (EDPFY) and Telecom Italia (TIIAY) have performed compared to their sector so far this year.