LONDON - Some hedge funds that bet against a series of Greek and Italian companies are nursing losses after the European Union’s breakthrough plan for a 750 billion euro recovery fund sent stock markets surging across southern Europe.
Essentially a bet that the price will fall, shorting involves borrowing shares then selling them in expectation of being able to buy them back cheaper and pocket the difference. Many stocks were off limits to hedge funds before May 18, however, when six European states, including Italy and Greece, scrapped short-selling bans introduced in March.
Those trades could still work, say, if the proposal fails to meet approval from the EU, or if markets are hit by another wave of COVID-19 infections that force economies to lock down again. A spokeswoman for Marshall Wace said the investor was currently net long on Italian and Eurozone banks, net long Italy and had a small net long position in Greece.
Source: News Formal (newsformal.com)
why does it looks like the statue's dick broke off & the statue is shocked by it?
‘Don’t fight the ECB’ ─Lady Laga
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