Trading halted in Portuguese bank shares

Allegations of a cover-up in the accounts of the parent company of Portugal's biggest bank has led to a trading halt in its shares.

Portugal's market regulator has halted trading in shares in the country's biggest bank Banco Espirito Santo after they plunged over allegations that its parent company covered up a 1.3 billion euro ($A1.95 billion) hole in the accounts.

Trading was suspended on Thursday ahead of "important information" to be published by BES, the market regulator said. Shares in the firm had plummeted by 17.24 per cent to 0.50 euros at the time of the suspension.