November 14, 2018 / 7:29 AM / in 5 months

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

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.

Reporting By Sinead Cruise, editing by Ben Martin

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