Asset managers double European short positions amid recession concerns

Ireland becomes most shorted market

Asset managers doubled their European short positions in October as concerns over an economic slowdown in the continent grew.

According to data from SEI Novus covering over €30bn in short positions from more than 150 managers, consumer discretionary stocks accounted for 54.5% of all short activity in Europe at the end of October, an increase from 17.7% in September. Accounting for 11.7% of all reported European short positions, industrial stocks were the second-most shorted sector, down from 24.5% in September. In terms of markets, Ireland was the most shorted country in October with 46.2%, followed by France with 11.7% and the United Kingdom with 10.8%. Germany overtakes UK as most shorted European marke...