European stocks recover after Portuguese bank revelation

European stocks recover after Portuguese bank revelation

After yesterday’s report of debt problems at Portuguese bank Espirito Santo sent global shares into decline, there was some recovery today. The concern of a European banking crisis forced Wall Street to close lower which in turn meant Asian markets began trading lower on Friday. However as Asian investors looked closer to home, markets rallied. IN European stocks were steady this morning as fears eased; Espirito Santo said late last night that the debts did not affect its ability to operate. Read the full story.