Spain extends short-selling ban until October 31

Spain has extended a ban on short-selling for Spanish securities from October 24 to October 31, to discourage investors trying to profit from the current crisis of the economy.

The ban will include all transactions in shares, including derivatives, and follows the three months short selling ban implemented by the country on July 23.

Spain’s banking stocks have been heavily shorted over the last months, as investors expected stock prices to fall further.

Meanwhile, the CNMV, Spain’s stock market regulator, has applied to the European Union to extend the ban for a further three months, effective from November 1.

Italy banned short-selling on banking and insurance stocks on July 27 and lifted its ban on September 14.

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