European shares receive boost as Portuguese market recovers poise

viernes 11 de julio de 2014 04:30 GYT

* FTSEurofirst 300 up 0.4 pct

* Portugal's top index rallies 2 percent after Thursday's slump

* Issues at BES not seen affecting other banks

* FTSEurofirst set for worst weekly fall since April

By Alistair Smout

EDINBURGH, July 11 (Reuters) - European shares rose on Friday, led up by a relief rally in Portuguese banks, with investors reassured that concerns over the country's biggest listed bank was unlikely to engulf other firms in the sector.

Portugal's PSI share index was up 2 percent in early deals, after falling 4.2 percent to a nine-month low on Thursday, with other indexes firming up across the region.

The fall in the previous session came after shares and bonds of Espirito Santo Financial Group, the chief shareholder in Banco Espirito Santo, were suspended over "material difficulties" at parent firm ESI.

On Thursday Banco Espirito Santo said losses associated with the founding family would not affect the bank.   Continuación...