Arab Today, arab today shares in portuguese bes bank plunge on default fears
Last Updated : GMT 05:28:26
Arab Today, arab today
Arab Today, arab today

Shares in Portuguese BES bank plunge on default fears

Arab Today, arab today

Arab Today, arab today Shares in Portuguese BES bank plunge on default fears

Espirito Santo Bank
Lisbon - AFP

Shares in stricken Portuguese bank Banco Espirito Santo (BES) plunged further on Tuesday, sinking more than 20 percent at one point.
In mid-morning trading, shares in the biggest private bank in Portugal, were down 15.28 percent to 0.38 euros.
The BES crisis dragged down shares in two other Portuguese banks, BCP and BPI, and the overall  stock market was down 1.49 percent.
Investors are worried that one of the holding companies behind BES might default on debts.
On Monday, the price of the already weakened BES shares had fallen by 7.48 percent despite a change in the top management team at the bank.
Credit rating agency Fitch said the immediate repercussions of the problems at BES on other Portuguese banks were restricted for now but warned that the banking system was vulnerable to a loss of confidence.
Shares in Portugal Telecom were down 1.50 percent to 1.84 euros. In April the company had bought 897 million euros ($1.2 billion) worth of debt in one of the BES holding companies.
Of this, 847 million euros ($1.15 billion) is due to be redeemed on Tuesday.
This effective loan to Rioforte, the company which groups the two non-financial branches of the Espirito Santo group, was strongly criticised by Brazilian telecom operator Oi which is due to complete a merger with Portugal Telecom later this year.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shares in portuguese bes bank plunge on default fears Arab Today, arab today shares in portuguese bes bank plunge on default fears

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 13:39 2017 Saturday ,25 March

US stocks end mixed as House pulls health-care bill

GMT 03:20 2017 Saturday ,25 March

Markets hanging on US health care bill fallout

GMT 15:44 2017 Wednesday ,22 March

Bahrain Bourse daily trading report

GMT 13:35 2017 Wednesday ,22 March

Oman shares fall taking cues from regional bourses

GMT 09:35 2017 Wednesday ,22 March

Bahrain Bourse daily performance
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday