Lisbon rallies as European shares edge higher

miércoles 23 de julio de 2014 12:56 GYT
 

* FTSEurofirst 300 closes up 0.1 pct at 1,375.69 points

* Lisbon's PSI-20 equity index outperforms with 1.7 pct rise

* PSI-20 lifted as investors take stake in BES

* Akzo rises after forecast-beating results

* Investors keeping wary eye on Ukraine crisis

By Sudip Kar-Gupta

LONDON, July 23 (Reuters) - Portugal's stock market outperformed other European bourses on Wednesday, rallying after investors bought stakes in the country's troubled lender Banco Espirito Santo.

Lisbon's benchmark PSI-20 equity index rose 1.7 percent, beating the 0.2 percent gains on the benchmark German and French markets, as investors took heart from late Tuesday news that two major U.S. institutions now held a combined 5 percent interest in BES.

BES has been hit by concerns about its exposure to the debts of its founding family, but the arrival of new investors sent shares in BES up by 14.4 percent.   Continuación...