Portugal outpaces flat European equity markets on bank boost

miércoles 28 de mayo de 2014 06:48 GYT

* FTSEurofirst 300 dips 0.1 pct

* Portugal's PSI rises 1.7 pct, boosted by BCP, BES

* Hugo Boss falls after share placement

* Ahold down after below-forecast profit

By Francesco Canepa

LONDON, May 28 (Reuters) - Portuguese shares outperformed mostly flat European equities on Wednesday, bolstered by reassuring signs from the country's largest listed banks.

Most other major European indexes hovered close to multi-year highs, with falls in fashion brand Hugo Boss and consumer group Ahold keeping the pan-European FTSEurofirst 300 in check.

Lisbon's PSI 20 index, however, rose 1.7 percent, with the country's No 2. bank Millennium bcp up 3.5 percent after announcing it had repaid state loans held in contingent convertible bonds (CoCos).

The move, which had to be approved by the Portuguese central bank, was interpreted as a sign of confidence on the bank's health ahead of the European Central Bank's asset quality review (AQR).   Continuación...