EEu­ur­rooppeeaann rreeaall eesst­taat­tee sst­tooc­ckkss ddoowwnn 11..44%%

Financial Mirror (Cyprus) - - FRONT PAGE -

The stock mar­kets suf­fered a mod­est drop over the last month in the wake of in­creased sanc­tions against Rus­sia, which are im­pact­ing neg­a­tively on eco­nomic prospects in Europe, and un­cer­tainty about the speed of in­ter­est turn­around in the USA. The Dax fell 1%, while the Eu­roStoxx was down by 1.2%.

Euro­pean real es­tate stock saw a sim­i­lar fall, at 1.4% clos­ing slightly weaker than the stock mar­ket as a whole. Losses were spread rel­a­tively evenly, with just eight of the Epix 50 stocks re­main­ing in the black.

The heav­i­est losers in­cluded Greek company Eurobank Prop­er­ties REIC SA (-5.4%) and Ital­ian firm Beni Sta­bili SpA (4.98%). Hav­ing again been down­graded by a bro­ker, French company ICADE SA (-4.3%) like­wise fell sig­nif­i­cantly. Be­fimmo SA ac­quired two of­fice prop­er­ties from AXA Bel­gium SA (-1.4%) in ex­change for shares, as a re­sult of which AXA Bel­gium SA now holds an 11.4% share in the company. Up by 11.7%, the big­gest win­ner by far was the Rus­sian PIK Group OAO. As such, the company has gained 50% since the end of July.

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