The second sequential ban of short selling in Europe, which was supposed to expire at the end of the month, has just been extended. At this point we are certain Europe will not allow shorting of financial stocks. Ever. Or at least until the Eurozone implodes... Which will be far sooner than 'ever.'
- ITALY MARKET REGULATOR CONSOB EXTENDS SHORT-SELLING BAN - BBG
- SPAIN'S CNMV REGULATOR EXTENDS SHORT-SELLING BAN - BBG
Next to join the part: France. In other news, since the short sale ban was instituted, SocGen is down 18.5% and UniCredit is down 26.6%.