LONDON Nov 21 Portugal's 10-year government
bond yield fell sharply on Monday, reversing an earlier rise to
nine-month highs, as news of a Chinese investment in the
country's largest-listed bank lifted sentiment towards a weak
Chinese conglomerate Fosun has agreed to buy a
16.7 percent stake in Millennium BCP, for 174.6 million
euros ($185 million) via a reserved capital increase and on
Sunday confirmed its intention of raising that stake to up to 30
The bank's shares rose around 3 percent on Monday, helping
lift sentiment in the bond market, where yields had opened
higher in line with a broad move in peripheral markets.
By afternoon trade, Portugal's 10-year bond yield was down
13 basis points at 3.69 percent and off a nine-month
high hit in morning trading.
(Reporting by Dhara Ranasinghe; Editing by John Geddie)