Banco Espirito Santo SA, Portugal’s biggest publicly traded bank by market value, rose the most in more than three weeks after European leaders agreed to ease repayment rules for emergency loans to Spanish lenders.
Banco Espirito climbed 6.7 percent to 53.8 euro cents in Lisbon trading, the biggest gain since June 5, giving the bank a market value of 2.16 billion euros ($2.7 billion).
“The decision by EU leaders to ease the terms on loans to Spanish banks is boosting the banking sector in the euro area, including in Portugal,” said Pedro Oliveira, a trader at Go Bulling in Lisbon.
To contact the reporter on this story: Henrique Almeida in Lisbon at email@example.com
To contact the editor responsible for this story: Jerrold Colten at firstname.lastname@example.org