As stock markets around the world fell amid a sell-off, many investors were pointing fingers at Portugal. Here's why.» Read More
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The European Central Bank left its interest rate and deposit rate unchanged on the back of improving economic data, following May's 25-basis-point reduction in the base rate to a record low of 0.5 percent.
Stock market operator NYSE Euronext on Thursday delayed the opening of its stock market indexes, attributing the late start of trade to technical issues which caused "aggravation" and "angst" among traders.
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European stocks ended the day lower on Thursday, with peripheral stocks leading the declines, as Portugal's PSI 20 Index fell over 4 percent.
Eric Green, senior portfolio manager at Penn Capital Management, said he didn't see any significant indications of a credit markets sell-off, given the "incredible" amounts of credit repair and how sovereign credit bonds had performed recently.
For all the talk of new euro zone rules for helping out troubled banks, none of the solutions are in place yet, says Raoul Ruparel, head of economic research at Open Europe - meaning Portugal is where the "buck stops".