Greece bans short-selling

Greece’s securities regulator on Wednesday banned short-selling in shares on the Athens bourse until June 28 after investors responding to the country’s deepening debt crisis ditched Greek assets a day earlier.

Greece’s securities regulator on Wednesday banned short-selling in shares on the Athens bourse until June 28 after investors responding to the country’s deepening debt crisis ditched Greek assets a day earlier.

HT Image

It was the second time during the global crisis for the securities regulator to ban short sales on the Athens bourse. The first was in October, 2008 and was lifted in June last year.

Subsequent rules required that short-selling on the Athens bourse be flagged and meet an uptick rule.

Greek shares are down 22.7 per cent year to date with banks nursing deeper losses of 36.9 per cent.