Short selling banned on Banco Popolare shares Mon and Tues

MILAN Mon Jan 27, 2014 7:06am EST

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MILAN Jan 27 (Reuters) - Italy's market watchdog Consob banned shortselling on the shares of Banco Popolare for Monday and Tuesday after the bank announced a profit warning and a capital increase, sending its stock sharply lower.

Banco Popolare shares fell 13.5 percent to 1.31 euros by 1202 GMT, dragging other Italian lenders lower on expectations that other banks will need to raise fresh capital.

(Reporting by Silvia Aloisi; editing by Francesca Landini)