European regulators were on Thursday night discussing whether to impose a contentious ban on short selling as they sought to stem recent sharp falls in share prices.
France is in favour of a ban after a week of rumours but the UK is against one. The new European Union market regulator, ESMA, is trying to co-ordinate action by national regulators and a final meeting could take place today to decide whether to press ahead.
Greece and Turkey have already imposed bans on short selling, where investors aim to profit from price falls. Bans on so-called naked shorting – selling shares that an investor neither owns nor has borrowed – are already in place in Italy, Germany and Spain.