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Showing posts with label Spanish Banks Tumble. Show all posts
Showing posts with label Spanish Banks Tumble. Show all posts

Wednesday, July 06, 2011

Spanish Banks Tumble

Posted On Wednesday, July 06, 2011 0 comments

Shares in Portuguese and Spanish banks fell sharply a day after Moody's Investors Service downgraded Portugal's sovereign-debt rating to junk and warned that the country may need another round of aid from the European Union.Shares in Banco Comercial Portugues SA fell more than 5% in Lisbon morning trading, while Banco Esprito Santo SA and Banco BPI SA both were down more than 4%.For Portugal and its banks, the downgrade implied "the materialization...


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