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Short Stocks: Bets build against financials

Wed May 21, 2008 6:21pm EDT
 
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NEW YORK, May 21 (Reuters) - Short interest on the New York Stock Exchange rose 2.3 percent in mid-May, the exchange said on Wednesday, suggesting an increase in bearish sentiment in the stock market.

The following stocks saw increased interest from short sellers, who bet that a certain stock's price will fall. The data reflect short trades with a settlement date of May 15.

For full story please see [ID:nN21454688]. For factbox please see [ID:nN21403444].

NATIONAL CITY CORP (NCC.N: Quote, Profile, Research, Stock Buzz)

Short interest jumped almost 40 percent in shares of Ohio's largest bank.

The company's chief executive said on Wednesday it is eyeing sales of its "problem" assets, or may put some in separate entities, after large mortgage losses drove it to raise $7 billion of capital.

About 140 million of the company's shares were held short, or 18.4 percent of its total shares outstanding.

COUNTRYWIDE FINANCIAL CFC.N

Short interest was up more than 34 percent in shares of the mortgage lender, which is set to be acquired by Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz).  Continued...

 

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