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Stock indices closed higher, recovering last week's losses. Concerns over the financial health of Banco Espirito Santo eased. Stocks were declined last week due to concerns over Portugal's banking sector. The parent company (Espirito Santo Financial Group) of Portugal's bank, Banco Espirito Santo SA, reported it didn't make the payments on short-term paper. Investors had concerns over of the banking sectors in Portugal as well as in Spain and Italy.
Eurozone's industrial production declined 3.3% in May, missing expectations for a 0.3% gain, after a 0.7% increase in April. April's figure was revised down from a 0.8 gain.
On a yearly basis, Eurozone's industrial production climbed 0.5% in May, missing expectations for a 1.1% rise, after a 1.4% gain in April.
Banco Espirito Santo shares dropped 8.1%.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,746.14 +55.97 +0.84%
DAX 9,783.01 +116.67 +1.21%
CAC 40 4,350.04 +33.54 +0.78%
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