The rebuilding of Portugal's Novo Banco - the successor to Banco Espirito Santo (BES) after a state rescue last month - was dealt a blow on Saturday.» Read More
CNBC's Michelle Caruso-Cabrera reports on the ripple effects of global unrest.
LISBON, July 14- Portugal's financially troubled Espirito Santo family loosened its grip on the country's largest listed bank, announcing a stake sale and hastening management change after prompting from the central bank which is trying to calm investors.
David Salanic, founder of Tortus Capital, discusses Portuguese government bonds and explains that they could go down 70 percent.
David Salanic, founder of Tortus Capital, explains that he's been short on Portugal for over a year and says that it will be "very difficult" for the country to cut its deficits further.
U.S. Treasury prices continued to rally on future Fed action and safe-haven demand stemming from worries about Portugal's biggest listed bank.
LONDON, July 11- European markets steadied and shares in Lisbon staged a small bounce on Friday as concerns eased about the health of Portugal's largest bank and its impact on the euro zone financial system. Doubts about the financial health of the family that controls BES had pulled the PSI 20 to a nine-month low on Thursday and rocked bourses across Europe.
*Portugal's top index rises 0.9 pct after Thursday's slump. LONDON, July 11- Portuguese shares bounced on Friday, outperforming skittish European markets, as investors decided concern over Portugal's biggest listed bank were unlikely to disrupt the country's financial system and affect lenders across the euro zone.
CNBC's Steve Sedgwick provides insight to the potential default at Banco Espirito Santo, and real worries of a domino effect around the world.
By Sergio Goncalves and Laura Noonan. LISBON July 11- Portugal's government and central bank assured investors on Friday that the southern European country's financial system was sound, aiming to quell worry about the spillover effects of trouble at the Espirito Santo business empire.
CNBC's Steve Sedgwick reports European shares pared losses as Banco Espirito Santo seeks to calm concerns over its capital position.
Jurrien Timmer, Fidelity Investments, and Steve Miller, AIG non-executive chairman, provide perspective on what would likely relieve the global economic malaise. Also Timmer shares his outlook on the markets.
Europe shares regain footing and Portugal shares post gains, reports CNBC's Karen Tso, with the latest update on Portugal's Banco Espirito Santo.
Patrick Chovanec, Silvercrest Asset Management, and Bruce Kasman, JPMorgan chief economist, share their outlook on the markets and economy. Also Kasman weighs in on Portugal's bank problems and explains why he thinks there's not a systemic threat in Europe.
Mark Grant, Southwest Securities, explains why the Portuguese bank crisis may spread to Brazil and Italy, but will not be a disaster for U.S. markets.
Portugal's bank woes raise concerns of another EU crisis, reports CNBC's Steve Sedgwick.
Portugal's banking sector has gone through a transformative intervention, making its risk to Europe's banking system small, Antonio Roldan Mones, Portugal analyst at Eurasia Group.
Alberto Gallo, head of European macro credit research at RBS, says Banco Espirito Santo has capital problems not solvency issues.
LONDON, July 11- Major currency markets were steady in Europe on Friday, having ridden out a day of ructions on European stock markets with only minimal moves on the euro and yen.
Paulo Soares de Pinho, associate professor at Nova School of Business and Economics, says the issues at Banco Espirito Santo won't spread across Portugal.
Pedro Santana Lopes, former Portuguese Prime Minister, says Banco Espirito Santo has a "good solvency situation" but the family behind the lender has questions to answer.