ECONOMY

Short selling on ATHEX banned until June 28

The Capital Market Commission yesterday banned short selling in shares on the Athens bourse until June 28 as investor sentiment plunged after Standard & Poor’s cut its rating on Greek debt to junk status. «The Capital Market Commission, having considered the extraordinary conditions on the Greek market, has decided to ban short selling on the Athens stock exchange. The rule will be in effect from April 28 until June 28,» it said. It was the second time during the global economic crisis that the securities regulator has banned short selling on the Athens bourse. The first began in October 2008 and was lifted in June of last year. Subsequent rules required that short selling on the Athens bourse be flagged and meet an uptick rule. Greek stocks gained 0.63 percent on the Athens bourse yesterday after sliding 6 percent on Tuesday.