Bail-out fears hit shares in Portugal and Spain
05 May 2010 @ 13:30
European shares traded at nine-week lows on Wednesday, on concerns that the joint European Union and International Monetary Fund rescue package for Greece would not be the last eurozone bail-out, sending Spanish and Portuguese stocks lower for a second day.
Spain’s Ibex 35 index slumped 1 per cent to 9,765.7, Portugal’s PSI20 declined 0.9 per cent to 7,034.09 while the Athens General lost 0.3 per cent to 1,724.16.
Spanish banks remained under pressure. Banco Santander lost 1.9 per cent to €8.45, BBVA declined 2.3 per cent to €8.89 and Banco de Valencia fell 1.9 per cent to 3.93.
The FTSE Eurofirst 300 edged 0.3 per cent higher to 1,033.53, however, on data showing a marked pick up in eurozone services activity in April.
Read more at the FT.com
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