UK bans Banco EspÃrito Santo short selling
01 August 2014 London
Image: Shutterstock
The UK Financial Conduct Authority (FCA) has again banned short selling in Banco EspÃrito Santo shares.
The FCA implemented the short selling ban on 31 July. It extended it today until 4 August.
Banco EspÃrito Santo shares cannot be sold short on any UK trading venues until the ban expires.
The FCA stressed that the ban does not affect Jerónimo Martins SGPS stock, which suffered a similar price drop to Banco EspÃrito Santo.
The ban was implemented in the UK following the Portuguese Â鶹´«Ã½ Market Commission introducing a similar restriction.
The authorities issued short selling restrictions on Banco EspÃrito Santo shares earlier in July following steep price drops. The bans in Portugal and the UK lasted almost a week.
The FCA implemented the short selling ban on 31 July. It extended it today until 4 August.
Banco EspÃrito Santo shares cannot be sold short on any UK trading venues until the ban expires.
The FCA stressed that the ban does not affect Jerónimo Martins SGPS stock, which suffered a similar price drop to Banco EspÃrito Santo.
The ban was implemented in the UK following the Portuguese Â鶹´«Ã½ Market Commission introducing a similar restriction.
The authorities issued short selling restrictions on Banco EspÃrito Santo shares earlier in July following steep price drops. The bans in Portugal and the UK lasted almost a week.
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