The Traderszone Network

Published in TZ Latest News 30 July, 2014 by The TZ Newswire Staff

Portuguese Regulator Bans Short-Selling After Banco Espirito Santo Unveils Massive $5 Billion Loss

Having waited until after the US equity markets closed, Portugal’s troubled Banco Espirito Santo unveiled an enormous EUR 3.577 Billion loss – that is 15 times larger than the loss the bank suffered a year earlier. The data¬† – to end-June, before the crisis really got going – already shows notable deposit flight, a 73.1% plunge in banking income, and a EUR 3 billion collapse in repoable assets (i.e. liquidity). On the heels of this Portugal’s securities regulator has enforced a short-selling ban on BES

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