Tuesday, August 12, 2014

The Lisbon PSI 20 index traded today for the first time without Espirito … – Expansión.com

The Lisbon PSI 20 index traded today for the first time without Espirito … – Expansión.com

Banco Espírito Santo (BES) was excluded today from 20 PSI, the main index of the Lisbon Stock Exchange for the first time since the creation of this indicator. Your quote was already suspended previously.

The bank was withdrawn from Lisbon selective at a price of $ 0, which caused an automatic drop PSI 20 in the early hours of today’s session, about 675 million euros.

That was the market value of the company was on the 1st, when the Securities Market Commission (CMVM) Portuguese decreed the suspension of trading after two consecutive days of astronomical losses, which came to place the value of its securities to a record low of 10.1 cents.

Today is the first day which are only 18 of the 20 trading securities should have the PSI 20, all but the BES and Espírito Santo Financial Group (ESPG), which was the largest shareholder of the bank, which had been excluded before.

The pan-European Euronext corporation, which includes the three funds contribution of Portugal, announced Wednesday the recall today, the PSI-20 extinct BES, which has been divided into a ‘good bank’ called Novo Bank and refloated with 4,900 million euros, and a ‘bad bank’ that maintains the name and toxic assets of the entity.

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