FCA echoes Consob with short-selling ban on ailing Banca Carige

FILE PHOTO - The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren - Copyright Chris Helgren(Reuters)

By Reuters

Published on 14/11/2018 - 09:04•Updated 11/05/2024 - 00:38

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LONDON (Reuters) - Britain's Financial Conduct Authority said on Wednesday it had banned short-selling activity targeting embattled Italian lender Banca Carige <CRGI.MI>, echoing an earlier action by fellow markets regulator Consob.

The ban has been imposed until 1159 GMT on November 14. Shares in Banca Carige closed down 49 percent on Tuesday, a day after the lender confirmed a 400 million euro fund raising plan to boost capital levels hurt by a sharp fall in the value of Italian government debt.