Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
British Land Co. has sold its stake in Sheffield’s Meadowhall Shopping Centre, one of the largest shopping malls in the UK, to Norway’s sovereign wealth fund.
China’s latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.
Foreign buyers swooped in to purchase Chinese stocks on Friday as Xi Jinping’s government announced a slew of measures to bolster the housing market.
China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
Feb 27, 2019
Bloomberg News
,(Bloomberg) -- A rally in Emaar Properties PJSC, Dubai’s biggest listed real-estate company, has pushed the stock beyond a key level for the first time since 2017, testing sentiment among investors still wary about the health of the sector.
The shares had climbed 14 percent in February before Wednesday’s session, headed for the best month in three years. The gains have taken the stock beyond its 200-day moving average, a level it held for some five months the last time this happened.
Emaar Properties is seen as a bellwether for Dubai’s real-estate market. The recent recovery comes after a 40 percent drop last year, the worst loss in a decade, as the stock was dragged lower by worries about an increase in supply at a time of falling demand in the emirate.
Emaar Properties’ rally has helped Dubai’s benchmark stocks gauge to bounce back from being the world’s worst performer in 2018. While some analysts and investors see further gains in store for the developer, thanks to attractively low valuations, others point to persistently weak fundamentals.
The stock was 1 percent lower as of 12:59 p.m. in Dubai. Here is what some analysts and investors are saying:
Ali Adou, the head of asset management at Daman Investments in Dubai.
Yugesh Suneja, an analyst with ADCB Securities LLC in Abu Dhabi.
Ahmed Badr, head of equities for the Middle East, North Africa at Credit Suisse in Dubai.
Ayub Ansari, senior analyst at Securities & Investment Co. in Bahrain.
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--With assistance from Filipe Pacheco and Manus Cranny.
To contact the reporter on this story: Abeer Abu Omar in Dubai at aabuomar@bloomberg.net
To contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, John Viljoen, Jon Menon
©2019 Bloomberg L.P.