The bank largest shareholder suspended trading in its own

Asian shares prove resilient to euro jitters

SYDNEY, July 11 (Reuters) Asian shares recouped early losses on Friday as sentiment in the canada goose factory sale region proved resilient to Portuguese bank concerns amid signs offshore funds Canada Goose Online were returning to emerging world assets.

MSCI broadest index of Asia Pacific shares outside Japan recovered to be a fraction firmer. Indices in Australia, Singapore and China were our web page all higher, while Japan Nikkei pared its losses to be off just 0.26 percent.

The yen also surrendered some of its safe haven gains as analysts emphasised that the woes of one Portuguese bank were no threat to the country sovereign rating.

Rather the news served as an excuse to book profits canadian goose jacket on what has been a long rally in European stocks and bonds.

Indeed, there were signs investors were taking money out of peripheral euro zone debt and seeking higher returns in the emerging buy canada goose jacket world. It was notable that MSCI index of uk canada goose outlet emerging market stocks actually Canada Goose Jackets rose on Thursday having hit a 17 month peak earlier Canada Goose Coats On Sale in the week.

European stocks had been buffeted overnight as cheap canada goose uk trading uk canada goose in Banco Espirito Santo was halted after a 19 percent drop. The bank largest shareholder suspended trading in its own shares and bonds due to difficulties at its own canadagooseonlineshop largest shareholder.

Late Thursday night, the bank said losses on loans to the troubled business empire canada goose clearance of its founding family will not put it at risk Canada Goose online of running short of capital.

The damage was amplified by data showing unsettlingly cheap Canada Goose weak readings for May industrial production in France and Italy. These followed equally disappointing numbers from Germany and the UK, which has led many analysts to cut their estimates of economic growth for the second quarter.

Portugal market had canada goose store fallen 4.2 percent and Italy FTSE canada goose uk shop MIB 1.9 percent on Thursday.

A YEN FOR SAFETY While the fate of a relatively minor bank in Europe would not normally have had much effect on Wall Street, it was enough to make investors reconsider the market high valuations as canada goose black friday sale the earnings season gets into full Canada Goose Outlet swing.

The canada goose uk black friday S 500 index fell 0.41 percent, while the Dow eased 0.42 percent and the Nasdaq 0.52 percent.

The S 500 financial sector index fell 0.5 percent and Wells Fargo Co, which reports earnings later Friday, lost 0.7 percent.

With stocks off the boil, Treasuries picked up the usual safe haven bid for shorter term debt which is prized for its deep liquidity. Yields on two year notes fell over 4 basis points to 0.4561 percent, a marked reversal from a high of 0.5360 percent hit just on Wednesday.

German debt played much the same role in Europe, where yields on 10 year bunds ended at a 14 month trough of 1.20 percent. Bonds in the euro zone periphery canada goose uk outlet were not so lucky, with canada goose coats on sale yields Canada Goose sale on Portuguese, Spanish and Italian canada goose clearance sale bonds all rising sharply.

The itch for safety benefited the Japanese yen which climbed a full yen to 137.76 per euro. The dollar initially dropped canada goose as far as 101.04 yen but Canada Goose Parka then slowly made it way back to 101.30.

The higher yielding Australian and New Zealand dollars also remained well supported, suggesting there was no widespread retreat from canada goose coats risky assets.

Tensions in the Middle East also continued to simmer with buy canada goose jacket cheap Israeli officials seeming to hint at a possible assault on Gaza by ground forces. (Editing by Eric Meijer and Jacqueline Wong).

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