Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Banco Comercial Portugues Falls on First-Half Loss: Lisbon Mover

July 30 (Bloomberg) -- Banco Comercial Portugues SA, Portugal’s second-biggest bank, fell to the lowest in a week in Lisbon trading after posting a loss on impairments related to the sovereign-debt crisis.

The stock fell as much as 3.2 percent to 9 euro cents, the lowest since July 23, and was down 1.1 percent to 9.2 cents at 9:43 a.m. in the Portuguese capital, giving the lender a market value of 693 million euros ($850 million).

“Banco Comercial’s reaction in today’s session is related to the negative results announced on Friday,” said Pedro Oliveira, a trader at Go Bulling in Lisbon.

The lender posted a first-half loss of 544.3 million euros after the close of trading on July 27, compared with net income of 114.3 million euros in the same period a year earlier. The bank said the results were affected by impairments for estimated losses of 450 million euros related to the economic and financial situation in Greece.

Shares of other Portuguese banks rose. Banco Espirito Santo SA gained 0.6 percent to 49.8 cents, and Banco BPI SA increased 1 percent to 50.5 cents.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.