Friday September 25, 2020

International hedge funds bet millions in short trades against Irish shares

Flutter, CRH, Greencore and Glanbia are among those whose shares have been borrowed

Barry J Whyte

Chief Feature Writer

@whytebarry

Aaron Rogan

News Correspondent

@aarrogan
5th April, 2020
Tullow Oil is one of the companies whose shares have been borrowed for short trades

As Irish publicly traded companies struggle with the commercial impact of the Covid-19 crisis, international hedge funds are betting hundreds of millions of euro that some Irish companies’ share prices will drop.

Stock market filings show that shares in companies such as Tullow Oil, Greencore, Cairn Homes, Dalata, Glanbia, CRH, Kingspan and Flutter have been borrowed for short trades.

A short trade is a risky bet in which a trader borrows a share from...

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