Greece lim­its short-selling ban on shares to top banks

The China Post - - BUSINESS INDEX & -

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.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.