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Foreign funds loosen bearish bet on big Italian banks

(Reuters) – Funds that built big short positions in Italy’s leading banks from early 2018 have lowered the size of their bets in the last few months as political worries eased, regulatory data shows. Despite a looming budget showdown between Rome and Brussels, a Reuters analysis of data from Italian market regulator Consob shows that as of May 21 there were no net short positions above 0.5% in shares of Italy’s two largest banks.

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