Following is a transcript of European Central Bank President Mario Draghi’s comments from his monthly news conference in Frankfurt today.
Portugal’s mail service, CTT-Correios de Portugal SA, rose on the first day of trading after the 493- year-old company held the country’s first initial public offering in five years.
European stocks fell the most in more than three months as investors weighed valuations before U.S. jobs data this week that may help gauge when the Federal Reserve will pare its stimulus.
The Portuguese government is raising about 578 million euros ($783 million) from the disposal of a 70 percent stake in the country’s 493-year-old postal service after setting the price at the top of its announced range.
Intesa Sanpaolo SpA led the busiest week for financial company bond sales from Europe’s periphery in a month as yields on the securities fell to a record.
Portugal’s government bond rating outlook was revised to stable from negative by Moody’s Investors Service amid an improving fiscal position and economic outlook.
Portugal’s jobless rate dropped for a second quarter, falling to 15.6 percent in the three months through September as the country’s economy shows signs of recovery.
The European Central Bank bought Portuguese government bonds, according to three people with knowledge of the transactions, who asked not to be identified because the deals are confidential.
The Portuguese government forecast faster growth next year while keeping its deficit targets unchanged as it tries to exit its bailout program.
Portuguese construction worker Carlos Marques lost his job in 2010 and a year later his unemployment money ran out. So he began peddling everything from old car radios to shoes to scratch a living.
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