the way I see it a short selling ban reduces volatility but only...

the way I see it a short selling ban reduces volatility but only AFTER a downward correction to accomodate it. (If this is the true then UK financials will initially rally as shorts get taken off the table then drops without a shortcovering bid. There should be a GIFT drop early next week at least on UK financials if you can find a way of shorting it eg futures.