UK bans Banco Espírito Santo short selling 01 August 2014 London Reporter: Mark Dugdale
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The UK Financial Conduct Authority (FCA) has again banned short selling in Banco Espírito Santo shares.
The FCA implemented the short selling ban on 31 July. It extended it today until 4 August.
Banco Espírito Santo shares cannot be sold short on any UK trading venues until the ban expires.
The FCA stressed that the ban does not affect Jerónimo Martins SGPS stock, which suffered a similar price drop to Banco Espírito Santo.
The ban was implemented in the UK following the Portuguese Securities Market Commission introducing a similar restriction.
The authorities issued short selling restrictions on Banco Espírito Santo shares earlier in July following steep price drops. The bans in Portugal and the UK lasted almost a week.
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