Espírito Santo

Type: Province
Name: Espírito Santo
First reported 21 hours ago - Updated 15 mins ago - 15 reports

It’s another record – BES share plunge to new depths

Never before has a Portuguese company lost so much value on the stock exchange in one day.BES shares today opened in Lisbon and collapsed in value by 45% in reaction to yesterday’s announcement that the country’s third largest bank had managed to lose ... [Published Algarve Daily News - 48 mins ago]
First reported 10 hours ago - Updated 1 hour ago - 2 reports

Banco Espirito Santo Sinks 50% As Trading Resumes In Lisbon

LONDON –   Banco Espirito Santo SA shares sank as much as 50% in Lisbon on Thursday after trading resumed in midmorning action. The shares were earlier in the day suspended after the Portuguese lender reported a record loss for the second quarter. The ... [Published FOXBusiness.com - 9 hours ago]
First reported 2 hours ago - Updated 2 hours ago - 1 reports

Bradesco Said Not to Be Planning BES Capital Contribution

Banco Bradesco SA (BBDC4) , the Brazilianlender that owns 3.9 percent of Banco Espirito Santo SA, doesn’tplan to contribute to the Portuguese bank’s capital raise,according to a person familiar with the matter who asked not tobe identified because he ... [Published Bloomberg - 2 hours ago]
First reported 5 hours ago - Updated 5 hours ago - 1 reports

Espirito Santo shares crash after lender is ordered to raise capital

Banco Espirito Santo (BES), Portugal's second-largest lender, on Wednesday evening published a €3.6bn net loss for the first half of the year after finding that its exposure to parent group Espirito Santo International via loans extended to the conglomerate ... [Published London South East - 5 hours ago]
First reported 8 hours ago - Updated 7 hours ago - 2 reports

Futures Tumble On Espirito Santo Loss, European Deflation, Argentina Default

It has been a deja vu session of that day nearly a month ago when the Banco Espirito Santo (BES) problems were first revealed, sending European stocks and US futures, however briefly, plunging. Since then things have only gotten worse for the insolvent ... [Published Zero Hedge - 7 hours ago]
First reported 22 hours ago - Updated 11 hours ago - 2 reports

Espirito Santo to Raise Capital After 3.6 Billion-Euro Loss

(Updates with bonds starting from first paragraph.)July 31 (Bloomberg) -- Banco Espirito Santo SA was ordered to raise capital as it posted a 3.6 billion-euro ($4.8 billion) first-half net loss on provisions for loans to other members of the Espirito ... [Published Washington Post - 11 hours ago]
First reported Jul 30 2014 - Updated Jul 30 2014 - 1 reports

Letters: Espirito Santo clarifies

With reference to the report "Burmans stand by Espirito Santo amid crisis" (July 24), we would like to clarify that Nigel Beattie's involvement in India was in his capacity as independent director and not as an employee or executive or non-executive director. ... [Published Business Standard India - Jul 30 2014]
First reported Jul 30 2014 - Updated Jul 30 2014 - 2 reports

Portuguese banking mess shook a dynasty

The Espirito Santo dynasty totters amid woes that have threatened to re-ignite Europe's financial crisis. Global Post reports. ... [Published Street Sweeper - Jul 30 2014]
First reported Jul 29 2014 - Updated Jul 30 2014 - 2 reports

LUSCHI to Start Dredging of ArcelorMittal Canal (Brazil)

LUSCHI is about to mobilize its vessel, “Giovanella”, to Espírito Santo where it will assist in dredging and final disposal of accumulated sediments in the seawater storage canal of ArcelorMittal.The canal is approximately 600 meters long and has sedimentation ... [Published Dredging Today - Jul 30 2014]
First reported Jul 29 2014 - Updated Jul 29 2014 - 2 reports

Portugal Telecom president excluded from new board

Portugal Telecom’s big cheese, Henrique Granadeiro, no longer will part on the board of directors of CorpCo, the new company created as a result of the merger between PT and the Brazilian telecoms company Oi.In a statement sent to the Brazilian regulator, ... [Published Algarve Daily News - Jul 29 2014]
First reported Jul 29 2014 - Updated Jul 29 2014 - 3 reports

BES annual general meeting called off

Shares in high street bank BES dropped a further 10% today after news reached the market that the bank's keenly awaited Annual General Meeting has been called off due to pressure from Espirito Santo Financial Group and Crédit Agricole, the bank's two ... [Published Algarve Daily News - Jul 29 2014]
First reported Jul 29 2014 - Updated Jul 29 2014 - 3 reports

BES cancels meeting after biggest shareholder gets creditor protection

(Recasts with BES clarification on management) LISBON, July 29 (Reuters) - Banco Espirito Santo on Tuesday cancelled a shareholder meeting scheduled for July 31 after its largest shareholder Espirito Santo Financial Group was granted protection from creditors. ... [Published Sharenet - Jul 29 2014]

Quotes

One hedge fund manager who is considering investing said a bailout was not inevitable. "If there really was no prospect of getting any cash, the stock should probably be at zero" he said
In the statement, " Next Steps for BES ', Bento said"
"The markets seem to be digesting a lot of the data from [Wednesday] along with the Fed statement. Even though there is a good chance we'll see a revision to what was a surprisingly good Q2 GDP number, this does raise the specter of monetary tightening in less than a year" said Brenda Kelly, chief market strategist at IG, in emailed comments
...6 billion-euro ($4.8 billion) first-half net loss," . "The Bank of Portugal required the lender to raise the money after it set aside 4.25 billion euros in the first half, mostly to cover souring loans to other members of the Espirito Santo Group. That cut Banco Espirito Santo’s common equity Tier 1 ratio to 5 percent, less than the 7 percent regulatory minimum, according to a statement yesterday."

More Content

All (1287) | News (1177) | Reports (0) | Blogs (94) | Audio/Video (0) | Fact Sheets (13) | Press Releases (3)
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It’s another record – BES share plunge to new d... [Published Algarve Daily News - 48 mins ago]
UPDATE 2-BES edges closer to state aid as inves... [Published CNBC - 2 hours ago]
Bradesco Said Not to Be Planning BES Capital Co... [Published Bloomberg - 2 hours ago]
BES mess gets worse amid capital scramble [Published GlobalCapital - 3 hours ago]
Press Release of Banco de Portugal on the resul... [Published Banco de Portugal - 3 hours ago]
"Seriously harmful acts of management" at Banco... [Published Atlanta Journal And Constitution - 4 hours ago]
Espirito Santo shares crash after lender is ord... [Published London South East - 5 hours ago]
UPDATE: U.S. stocks: Futures drop on jobless cl... [Published Morningstar.com - 6 hours ago]
Markets Are In The Red, Major Portugese Bank Cr... [Published Connecticut Post - 6 hours ago]
Espirito Santo Plunges After Posting 3.6 Billio... [Published Bloomberg via Google News - 6 hours ago]
Dominoes Fall At Espírito Santo [Published Forbes.com - 6 hours ago]
Futures Are In The Red [Published Yahoo! Finance - 6 hours ago]
Futures Are In The Red (DIA, SPX, SPY, QQQ, WFM... [Published Business Insider - 6 hours ago]
Futures Are In The Red (DIA, SPX, SPY, QQQ, WFM... [Published Clusterstock - 6 hours ago]
BES subs dive to new lows as burden sharing ris... [Published GlobalCapital - 6 hours ago]
Futures Tumble On Espirito Santo Loss, European... [Published Zero Hedge - 7 hours ago]
New species of frog named after slaves [Published Wildlife Extra - 7 hours ago]
x/-Siemens CEO needs more time to fix energy bu... [Published Sharenet - 7 hours ago]
Banking, cement stocks lead decline [Published Business Standard India - 7 hours ago]
Shares in Portuguese bank BES plunge [Published MSN New Zealand - 8 hours ago]
UPDATE 1-BES edges closer to state aid as inves... [Published Reuters UK - 8 hours ago]
Futures Tumble On Espirito Santo Loss, European... [Published Zero Hedge - 8 hours ago]
Banco Espirito Santo shares plummet over 50% [Published Business Spectator - 8 hours ago]
Lloyds excites bulls with profits beat [Published Interactive Investor - 8 hours ago]
Quartz Daily Brief—Americas edition—Samsung dow... [Published Quartz - 8 hours ago]
10 Things You Need To Know Before The Opening B... [Published Clusterstock - 8 hours ago]
UPDATE 2-Rolls-Royce says 2014 on track, to ret... [Published CNBC - 9 hours ago]
Banco Espirito Santo Sinks 50% As Trading Resum... [Published FOXBusiness.com - 9 hours ago]
Banco Espirito Santo's share price plummets aft... [Published City A.M. - 9 hours ago]
MARKET SNAPSHOT : U.S. Stocks: Futures Drop On ... [Published 4 Traders - 9 hours ago]
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Blogs

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Espirito Santo Plunges After Posting 3.6 Billio... [Published Bloomberg via Google News - 6 hours ago]
Espirito Santo Plunges After Posting 3.6 Billion-Euro Loss Bloomberg The lender's 750 million euros of 7.125 percent subordinated bonds plunged as much as 20.9 cents on the euro to 55.8 cents and were at 57.8 cents to yield 15.9 percent, according ...
Futures Are In The Red (DIA, SPX, SPY, QQQ, WFM... [Published Clusterstock - 6 hours ago]
Stocks are set to open lower on the final trading day of the month. Dow futures are down 111 points, S&P 500 futures are down 13 points, and Nasdaq futures are down 30 points. U.S. stocks are taking their lead from stocks around the world, as markets ...
Futures Tumble On Espirito Santo Loss, European... [Published Zero Hedge - 8 hours ago]
It has been a deja vu session of that day nearly a month ago when the Banco Espirito Santo (BES) problems were first revealed, sending European stocks and US futures, however briefly, plunging. Since then things have only gotten worse for the insolvent ...
10 Things You Need To Know Before The Opening B... [Published Clusterstock - 8 hours ago]
1.  Argentina Defaults. Argentina defaulted after failing to make a $539 million interest payment to a group of hedge funds. No one really knows what will happen next — the country has been locked out of international credit markets since 2001. ...
Markets Are In The Red, Major Portugese Bank Cr... [Published Clusterstock - 9 hours ago]
Stocks are down across Europe. Britain's FTSE is down 0.2%. France's CAC 40 is down 0.7%. Germany's DAX is down 1.0%. Spain's IBEX is down 1.6%. This comes in the wake of new inflation and unemployment data. Consumer prices in the euro zone ...
1 2 3 4 5 6 7 8 9 10 ...

Press Releases

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Sbarro Continues Growth In Brazil With New Rest... [Published Financial Services - Jul 24 2014]
CGG : CGG Begins Multi-Client Survey of Espirit... [Published GlobeNewswire: Acquisitions News - May 15 2014]
Café do Centro: referência no segmento de café ... [Published PR Newswire - Dec 11 2013]
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