Short selling bans for Banco Espírito Santo shares
15 July 2014 London
Image: Shutterstock
A temporary short selling ban on Banco Espírito Santo in the UK will come to an end at 23.59 on 15 July, following a steep drop in the price of the Portuguese bank’s shares.
The UK Financial Conduct Authority (FCA) implemented the short selling ban on 11 July, with it due to finish at the end of that day.
The Portuguese Securities Market Commission (CMVM) banned the short selling of Banco Espírito Santo in Portugal on 10 July due to a price drop.
It lifted the ban a day later, but implemented a new two-day ban due to “a significant fall in price following the original temporary restriction”. Short selling of Banco Espírito Santo shares cannot resume on Euronext Lisbon until 23.59 on 15 July.
The FCA implemented its own ban of short selling in Banco Espírito Santo shares following “a similar price fall … on UK trading venues”. That 24-hour ban, due to end at 23.59 on 14 July, was extended in parallel with the CMVM in Portugal.
The UK Financial Conduct Authority (FCA) implemented the short selling ban on 11 July, with it due to finish at the end of that day.
The Portuguese Securities Market Commission (CMVM) banned the short selling of Banco Espírito Santo in Portugal on 10 July due to a price drop.
It lifted the ban a day later, but implemented a new two-day ban due to “a significant fall in price following the original temporary restriction”. Short selling of Banco Espírito Santo shares cannot resume on Euronext Lisbon until 23.59 on 15 July.
The FCA implemented its own ban of short selling in Banco Espírito Santo shares following “a similar price fall … on UK trading venues”. That 24-hour ban, due to end at 23.59 on 14 July, was extended in parallel with the CMVM in Portugal.
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