Portugal

European stocks went up as tensions fell down and the economy began to bounce back.
European stocks climbed, rebounding from their lowest level in three months as Portugal bailed out Banco Espirito Santo SA, easing concern about the region’s most indebted lenders.
The Standard & Poor’s 500 Index rose after the worst week in more than two years and European bonds gained with equities after Portugal announced a bailout for Banco Espirito Santo SA.
Banco Espirito Santo SA jumped the most in two weeks while mining company Rio Tinto Group added 2.8% and said quarterly iron-ore production climbed 11%.
Banco Espirito Santo SA jumped the most in two weeks, while mining company Rio Tinto Group added 2.8% and said quarterly iron-ore production climbed 11%.
Gold is holding below the highest price in almost four months after rally 1.7% yesterday.
Gold is holding below the highest price in almost four months after rally 1.7% yesterday.
Missed debt payments by a company linked to Portugal’s second-largest lender spurred concerns Europe remains vulnerable to shocks.
Stocks in Europe are responding to overdue short-term debt repayments by a large Portuguese bank as its family office faces audit difficulties.
The International Monetary Fund said it agreed to disburse 657.5 million euros to Portugal after reviewing implementation of conditions tied to the country’s loan program.