Stocks in Portugal's biggest bank BES suspended amid crisis | Bangkok Post: news

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Stocks in Portugal's biggest bank BES suspended amid crisis

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LISBON (PORTUGAL) - Portugal's market regulator on Thursday halted trading in shares in the country's biggest bank Banco Espirito Santo after they plunged over allegations that its parent company covered up a 1.3 billion euro hole in the accounts. 

A member of the Spanish Guardia Civil speaks to members of staff at the Portuguese bank Espirito Santo after it was raided for possible money laundering activities, November 2, 2006 in Madrid

Trading was suspended ahead of "important information" to be published by BES, the market regulator said. Shares in the firm had plummeted by 17.24 percent to 0.50 euros at the time of the suspension.

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