BlueCrest, Marshall Wace Build Short Positions in Oil Companies
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London hedge funds stepped up bets this month against European companies with the highest sensitivity to lower oil prices, speculating that share prices have further to fall.
Firms including BlueCrest Capital Management and Marshall Wace increased their short positions this month in exploration and oil-services stocks including Petrofac Ltd., SBM Offshore NV and Lundin Petroleum AB, according to data compiled by Bloomberg and European regulators.