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Hedge funds make £1.3bn shorting financial stocks
David Walker
01 Dec 2008
01 Dec 2008
 |
Saturday
10 January 2009
03:00 GMT
Hedge funds shorting UK financial stocks have made at least £1.3bn (€1.6bn) from their positions since mid-September, according to regulatory filings, as the sector’s shares continued sliding in spite of the UK financial watchdog’s prohibition on speculators adding to bets on their fall. However, some managers are reducing or reversing short positions in anticipation that bank shares will rise.
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