European markets settle after Portugal-led rout

Jul 11, 2014, 7:13 AM EDT
European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal's banking sector that highlighted contagion risk in the euro zone.
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European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal's banking sector that highlighted contagion risk in the euro zone. European shares were still on track to post a sharp weekly loss as investors reassess stretched valuations for global equities amid a slower-than-expected pace of economic recovery in the euro zone.
Background:
European markets settle after Portugal-led rout [Reuters]
Asian stocks slide on Portugal as yen gains with gold [Bloomberg]

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