Banks help Portugal to outperform flat European stocks

miércoles 28 de mayo de 2014 12:51 GYT

(Updates prices after market close)

* FTSEurofirst 300 dips 0.1 pct

* Portugal's PSI rises 1.1 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 flat European equities on Wednesday, bolstered by reassuring signs from the country's largest listed banks.

Most other leading European indexes traded flat or slightly lower, though still close to multi-year highs, with declines by fashion brand Hugo Boss and consumer group Ahold weighing on the pan-European FTSEurofirst 300 .

Lisbon's PSI 20 index, however, rose 1.1 percent. The country's second-largest bank, Millennium bcp, gained 4 percent after announcing it had repaid state loans held in contingent convertible bonds (CoCos).   Continuación...