France and Italy extend short selling bans
11 November 2011 Paris
Image: Shutterstock
The French financial regulator has announced the extension of a short selling ban in ten financial sector securities because of unsatisfactory market conditions.
Currently France, Italy, Greece, Spain and Belgium have short-selling curbs in place. Consob, the Italian financial regulator, has extended the Italian short selling ban until 15 January 2012. It has also extended the Italian short position disclosure regime indefinitely and will be introducing a ban on the naked short selling of Italian shares with effect from 1 December 2011. The limits in Belgium, Spain and Greece are effective indefinitely until local regulators feel markets have stabilised.
Italian and Greek leadership has been at the centre of the eurozone crisis storm. Both Silvio Berlusconi, Italy's prime minister and George Papandreou, Greece's prime minister have been ousted. Markets have rallied in response while Italy's 10-year benchmark bond yield fell dramatically and convincingly.
Currently France, Italy, Greece, Spain and Belgium have short-selling curbs in place. Consob, the Italian financial regulator, has extended the Italian short selling ban until 15 January 2012. It has also extended the Italian short position disclosure regime indefinitely and will be introducing a ban on the naked short selling of Italian shares with effect from 1 December 2011. The limits in Belgium, Spain and Greece are effective indefinitely until local regulators feel markets have stabilised.
Italian and Greek leadership has been at the centre of the eurozone crisis storm. Both Silvio Berlusconi, Italy's prime minister and George Papandreou, Greece's prime minister have been ousted. Markets have rallied in response while Italy's 10-year benchmark bond yield fell dramatically and convincingly.
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