Short sellers take bets on nearly 8% of German bank PBB, filings show

FRANKFURT (Reuters) -Short sellers have taken bets against nearly 8% of shares in Deutsche Pfandbriefbank (PBB), filings showed on Monday, as the German lender came under pressure on concerns over its exposure to the U.S. commercial real estate market.

Separately, the bank’s shares gained 3.9% in morning trade in Frankfurt, after sharp falls last week when a top investor trimmed its holding and as the bank published unscheduled announcements to assure shareholders.

Figures in the Federal Gazette showed short sellers, whose bets speculate on a fall in a company’s share price, held positions against 7.57% of the bank’s shares.

The figure may underreport the positions because only bets of 0.5% and above are required to be publicly disclosed.

PBB declined to comment.

Handelsblatt reported over the weekend that PBB was the stock in the nation’s top share indexes that short sellers are making the greatest bets on.

(Reporting by Tom SimsEditing by Miranda Murray)

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