July 11, 2014 / 6:36 AM / 3 years ago

UK regulator says it temporarily restricted short selling in BES

LONDON, July 11 (Reuters) - Britain’s financial regulator said on Friday that it has temporarily restricted short selling in shares of Portugal’s Banco Espirito Santo (BES).

In a statement the Financial Conduct Authority said the ban affects anyone trading on any UK venue on which the instrument is traded, with the only exemptions for certain market making transactions.

Shares in Portugal’s largest listed bank were suspended on Thursday after plunging as much as 19 percent in morning trading amid fears about its exposure to companies in the wider group controlled by the powerful Espirito Santo clan. (Reporting by Clare Hutchison, editing by William Hardy)

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