Greece limits short-selling ban on shares to top banks
Greece’s stock market watchdog on Wednesday said it was maintaining a short-selling ban on the shares of top banks ahead of an imminent recapitalization process.
“The measure shall be in force (from) Oct. 1 (to) Nov. 9,” the capital market commission said in a statement.
“Any additional pressure on the listed stocks of credit institutions could have consequences,” it said.
The ban applies to shares of Alpha Bank, Attica Bank, Eurobank, National Bank and Piraeus Bank.
Short-selling occurs when in- vestors sell shares they do not own in anticipation of a fall in their price, fuelling market volatility.
The short-selling ban was imposed in June alongside capital controls when fears of Greece being ejected from the eurozone caused a run on bank deposits.