Spain, Italy Ban Short Selling To Slow Market Turmoil
From bloomberg.com
Spain and Italy reinstated a short- sale ban on stocks as bank shares plunged to record lows, bond yields rose and the euro traded below its lifetime average against the dollar on concern the debt crisis is growing. Spain’s CNMV market regulator banned the creation of negative bets using all equity securities through shares, derivatives and over-the-counter instruments for three months. Italy’s Consob prohibited the practice on 29 banking and insurance shares for one week, citing “grave tensions” in financial markets. Today’s move echoes decisions in August last year by the two nations plus France and Belgium after ...
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