Tuesday January 19 2016
News Source: Global Disclosures
Focus: Short Selling
Type: General
Country: Italy
The Italian watchdog, Consob has imposed a further temporary short selling ban on Italy’s third largest bank Monte dei Paschi di Siena (Banca MPS) for the entire trading session of Wednesday 19 January 2016. This latest short selling ban imposed on Banca MPS follows a previous ban imposed on 12 January 2016.
The ban has been adopted pursuant to Article 23 of the EC Regulation on “Short Selling”, in response to a price drop in the share price exceeding the 10% threshold during the trading day of Monday 18 January 2016, where share prices in Banca MPS fell by 14.8%.
This extends the existing ban in place regarding naked short selling for all equities, imposed from 01 Nov. 2012.
For the Consob announcement, please see the above link (Italian – Englsih link to follow)
For our previous article relating to the short selling ban on 12 January 2016, please see the below link: