Hedge funds were angered by the restrictions, saying short selling was being blamed when there were a raft of fundamental problems facing banks around the world. Swiss bank UBS UBSN.VX rallied 30 percent and Credit Suisse CSGN.VX rose 23 percent.Īustrian watchdog FMA said it is in talks with market participants about whether restrictions such as a ban on forms of short-selling were necessary, while in Portugal regulator CMVM said it was considering “extraordinary” measures on short-selling with European counterparts.

In Switzerland the bourse and regulators reminded investors that naked short-selling was not allowed on the Zurich-based SWX exchange. The stock was up over 30 percent by midsession.Įlsewhere Australian regulators slapped a ban on “naked” short-selling, which is when investors sell the stock without owning or borrowing it, and buying it back before the trade has settled - a controversial practice even before the latest financial market turmoil. The Irish Stock Exchange also moved to block short-selling, helping send Anglo Irish Bank ANGL.I up more than 100 percent in early trade.

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