3 Portuguese Banks Lose More Than 660 Million in 5 Days

Bank Millennium 

Cut the rating of Spanish banks and the poor performance of the largest Portuguese banks have caused a loss of more than EUR 660 million in capitalization of the BES, Millennium bcp and the BPI.

Within a year, the market value of the BES, Millennium bcp and the BPI fell 61%. Only at the end of last week, after the rating of Spanish banks have been revised downwards again, the three Portuguese private banks lost more than 660 million in market capitalization.

BES was the bank most penalized, having lost about 570 million of value in exchange, as a result of a fall of 22.26% in the share price. Millennium bcp, that seemed no longer able to fall much more, yet depreciated 4.85%, with its share to fall up to 9.6 cents.

Translated Source