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Copainon Oct 10, 2008 8:00pm
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RE: UPDATE - Italy extends short-selling ban to al
RE: UPDATE - Italy extends short-selling ban to alUPDATE 1-Italy extends short-selling ban to all stocks10.10.08
MILAN, Oct 10 (Reuters) - The Italian stock market regulator has extended a ban on short-selling to all stocks listed on the Milan stock exchange, it said in a statement on Friday.
Consob said on its website the ban would go into effect at 1200 GMT Friday until Oct. 31.
'(Consob) has decided to extend to all listed stocks in regulated Italian markets an obligation that all sales are made with the stocks being owned and available,' it said.
Consob had already banned short selling -- selling borrowed shares in the hope the price will fall and then buying them back more cheaply to make a profit -- on bank and insurance stocks earlier this month.