Italian bank shares sidelined until January 2015
12 November 2014 Milan
Image: Shutterstock
A ban on net short positions in Banca MPS and Banca Carige shares has been extended in Italy due to fears over a hit on shares in the Italian banking sector.
Italy’s regulator Consob has extended the ban until 27 January 2015. It initially ran between 27 October and 10 November and prohibited creating and increasing net short positions in Banca MPS and Banca Carige shares and any underlying instruments.
Marketing activities are exempted from the ban.
In 2013, shares in Italian banks on Milan exchanges fell sharply in response to the news that a hung parliament was likely in the country, leading Consob to ban short selling of four of them on 26 February.
The short selling of shares in Banco Popolare, Mediolanum, Banca Carige and Intesa Sanpaolo were prohibited for the entire trading day of 27 February.
Italy’s regulator Consob has extended the ban until 27 January 2015. It initially ran between 27 October and 10 November and prohibited creating and increasing net short positions in Banca MPS and Banca Carige shares and any underlying instruments.
Marketing activities are exempted from the ban.
In 2013, shares in Italian banks on Milan exchanges fell sharply in response to the news that a hung parliament was likely in the country, leading Consob to ban short selling of four of them on 26 February.
The short selling of shares in Banco Popolare, Mediolanum, Banca Carige and Intesa Sanpaolo were prohibited for the entire trading day of 27 February.
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