Portuguese bank ravaged by bears, again
08 June 2016 Lisbon
Image: Shutterstock
Portugal's largest private bank, Banco Comercial Português, has had a third short selling ban imposed upon it in just six days.
Portugal’s financial markets authority, the CMVM, was forced to enact a new 24-hour ban on short sales of the bank’s shares after its share price fell below the required 10 percent threshold in a single trading day.
The latest ban will end at 11.59pm on 8 June.
The bank's share price closed at 0.03 EU cents on 7 June and opened at 0.02 EU cents on 8 June.
The first two trading bans came on the 1 June and 6 June after similar price drops and also lasted for a day.
Portugal’s financial markets authority, the CMVM, was forced to enact a new 24-hour ban on short sales of the bank’s shares after its share price fell below the required 10 percent threshold in a single trading day.
The latest ban will end at 11.59pm on 8 June.
The bank's share price closed at 0.03 EU cents on 7 June and opened at 0.02 EU cents on 8 June.
The first two trading bans came on the 1 June and 6 June after similar price drops and also lasted for a day.
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