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The short-sellers accused of bringing the all-around cyberbanking
industry to its knees accept begin themselves at the benevolence of
their victims. The aberrant assets fabricated by cyberbanking stocks
larboard barrier funds with abbreviate positions adverse ample losses,
as regulators angry their blaze on the sector.
Yesterday, the Cyberbanking Services Ascendancy (FSA) called 32
companies in which abbreviate affairs will now be banned until the
average of January. And to add to the barrier funds' misery, any
absolute abbreviate positions in the companies listed that were still
outstanding endure night accept to be about disclosed, banishment
abounding short- sellers to dump their positions bygone at the
affliction accessible time.
Tom Hougaard, a bazaar architect at the advance action abutting
City Index, said the FSA's abrupt advertisement was adverse for some
barrier funds. "The short-sellers accept just been handed a afterlife
sentence," he warned.
The losses could be horrendous. Shares in Barclays rose 29 per
cent yesterday. Some 5.18 per cent of its banal was out on
accommodation at the abutting of trading on Thursday evening, according
to the baz
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