Portugal's banks help it outperform mostly flat European stock markets

miércoles 28 de mayo de 2014 10:38 GYT

* FTSEurofirst 300 dips 0.3 pct

* Portugal's PSI rises 1 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 weaker European equities on Wednesday, bolstered by reassuring signs from the country's largest listed banks.

Most other major European indexes traded flat or slightly lower, while remaining close to multi-year highs. Declines by fashion brand Hugo Boss and consumer group Ahold weighed on the pan-European FTSEurofirst 300.

Lisbon's PSI 20 index, however, rose 1 percent. The country's second-largest bank, Millennium bcp, gained 3.5 percent after announcing it had repaid state loans held in contingent convertible bonds (CoCos).

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