European shares ended the day flat on Friday, as traders shrugged off some concerns about the condition of Portugal's banking sector, which had dragged global markets lower on Thursday.
The pan-European FTSEurofirst 300 closed flat at 1,349.99. Britain's FTSE 100 ended up around 0.1 percent and France's Cac 40 up 0.3 percent. Germany's Dax, however, slipped a little to close down around 0.1 percent.
Portugal's PSI ended the day around 0.67 percent higher, paring some gains, after ending Thursday around 4 percent lower. The bourse's previous slide was driven by concerns over the governance and health of one the country's leading banks.
After several months of rumbling, Portuguese conglomerate Espírito Santo International this week delayed payments to some holders of its short-term debt securities. The delay spread fears about the stability of the bank Espirito Santo (BES) and the country's banking sector in general, with global stocks selling off on the news.
The bank rushed to quell any concerns regarding its financial stability, and Portugal's Prime Minister, Pedro Passos Coelho, said on Friday that investors should not worry about the stability of the country's financial system, according to wire reports.