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SHORT SELLING TEMPORARILY HALTED ON ITALY’S COMPARI GROUP

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    March 16, 2020 11:44 AM PDT

    Short selling shares for Italy’s largest drinks group, Campari, was temporarily halted on the London Stock Exchange on Friday in the wake of the the Italian shutdown due to Covid-19.

     

    In an announcment on Friday, the UK’s Financial Conduct Authority (FCA) temporarily prohibited short selling for around 150 Italian and Spanish companies in total – including Campari, which apparently followed a request by the Italian and Spanish authorities. The UK action came after Spain and Italy also banned the practice after an unsettled week for the international money markets.

    Campari’s stock price has fallen from a high of $9.80 on 12 February to $6.31 approximately a month later.