European countries extend short-selling ban as they try to tame markets
By Associated Press, Updated: Thursday, August 25, 11:54 AM
PARIS — Several European countries that banned short-selling have extended the prohibition until the end of September.
When concerns about European banks’ exposure to Greek debt sent their stocks plummeting two weeks ago, market regulators in Belgium, France, Greece, Italy and Spain stepped in to prohibit traders from betting on the decline in a share’s price.
On Thursday, the countries extended the ban and said they would reconsider it at the end of next month. Greece’s ban expires in October.
The French market regulator said the ban can remain in place for up to three months.
Short-selling is a trade in which the investor sells stock without owning it in the hope of buying it back for a lower price.
By Associated Press, Updated: Thursday, August 25, 11:54 AM
PARIS — Several European countries that banned short-selling have extended the prohibition until the end of September.
When concerns about European banks’ exposure to Greek debt sent their stocks plummeting two weeks ago, market regulators in Belgium, France, Greece, Italy and Spain stepped in to prohibit traders from betting on the decline in a share’s price.
On Thursday, the countries extended the ban and said they would reconsider it at the end of next month. Greece’s ban expires in October.
The French market regulator said the ban can remain in place for up to three months.
Short-selling is a trade in which the investor sells stock without owning it in the hope of buying it back for a lower price.
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