Portuguese bourse outperforms weaker European equities

martes 6 de mayo de 2014 10:23 GYT
 

* Lisbon's PSI-20 equity index outperforms to rise 0.2 pct

* Portuguese market buoyed by signs of economic recovery

* Credit Suisse cuts Germany to "benchmark" vs "overweight"

* Backdrop of M&A activity cushions stock markets

By Sudip Kar-Gupta

LONDON, May 6 (Reuters) - European stock markets fell across the board on Tuesday, apart from Lisbon which swam against the tide as new signs of a Portuguese economic recovery buoyed the country's bourse.

The pan-European FTSEurofirst 300 index, which had reached a near 6-year high of 1,357.05 points earlier this month, retreated by 0.4 percent to 1,342.42 points.

The euro zone's blue-chip Euro STOXX 50 index also fell 0.7 percent while Germany's DAX, which hit a record high of 9,794.05 points in late January, slipped 0.7 percent to 9,460.02 points.

Credit Suisse equity strategists on Tuesday cut their rating on Germany to "benchmark" from "overweight", highlighting the risk that German exporters could be hurt by a Chinese economic slowdown.   Continuación...