Italy mkt watchdog bans short selling on Intesa shares

MILAN Tue Feb 26, 2013 6:26am EST

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MILAN Feb 26 (Reuters) - Italy's market watchdog banned short-selling of shares of the country's biggest retail bank, Intesa Sanpaolo as the stock fell sharply on Tuesday in the wake of an inconclusive election result.

A statement from Consob said short-selling on the stock would be banned on Tuesday and Wednesday. Intesa's shares were suspended for excessive volatility and were indicated down 10 percent, with the blue-chip FTSE MIB index falling 4.5 percent. (Reporting By Silvia Aloisi)

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