March 16, 2020 / 9:04 PM / 19 days ago

Italy market regulator bans short-selling Tuesday, to adopt further measures

MILAN, March 16 (Reuters) - Italy’s market regulator Consob said on Monday it was introducing a new 24-hour short-selling ban as the Milan bourse continued to slide hit by a coronavirus crisis in the country.

The ban will apply to 20 stocks on Tuesday and follows a similar measure taken by Consob on 85 stocks last Friday.

Consob said it had also kicked off a procedure which will allow it to adopt further restrictive measures, introducing a more lasting ban on short-selling as envisaged by existing European regulation under exceptional circumstances.

Tuesday’s measure will apply to Italy’s biggest bank by assets UniCredit, auto maker Fiat Chrysler and defence grouo Leonardo among others. (Reporting by Elisa Anzolin and Valentina Za, editing by Valentina Za)

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