Short sellers call time on London property stocks - FT.com:
"The estate agent was waxing lyrical: “And across the river, ladies and gentlemen, rises the single tower of the iconic Battersea power station. As with the development of flats nearby we are about to visit, a little imagination is needed to visualise all four rebuilt, but of course you are all property visionaries.”
A pessimistic estate agent is as common in Battersea as a Zika-carrying mosquito, and about as popular, but the magnificent bull market in luxury London flats is ending at last. Around the power station they are whistling to stay cheerful, but the atmosphere is reminiscent of the last Canary Wharf boom. There, flats were bought off plan with 10 per cent deposits, essentially as a geared play on rising prices rather than as a place to live. Once the flats were built, real buyers proved hard to find, and prices plunged."
'via Blog this'
Saturday, 13 February 2016
Oil rockets from 12-year low on renewed talk of OPEC cut | Reuters
Oil rockets from 12-year low on renewed talk of OPEC cut | Reuters:
"Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
Despite the strong daily gain, oil prices were poised to end the week down as much as 5 percent.
The United Arab Emirates' energy minister said the Organization of the Petroleum Exporting Countries was willing to cooperate on an output cut, the Wall Street Journal reported on Thursday after crude futures settled in U.S. trade."
'via Blog this'
"Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
Despite the strong daily gain, oil prices were poised to end the week down as much as 5 percent.
The United Arab Emirates' energy minister said the Organization of the Petroleum Exporting Countries was willing to cooperate on an output cut, the Wall Street Journal reported on Thursday after crude futures settled in U.S. trade."
'via Blog this'
HSBC Cuts Emaar's Price Estimate by 26% on Dubai Property Slump - Bloomberg Business
HSBC Cuts Emaar's Price Estimate by 26% on Dubai Property Slump - Bloomberg Business:
"HSBC Holdings Plc cut its price estimates for Dubai developer Emaar Properties PJSC and peers including Damac Properties Dubai Co., predicting falling revenue and declining property prices in the United Arab Emirates.
Emaar’s price estimate was slashed 26 percent to 8.5 dirhams, while Damac’s is 8 percent lower at 3.4 dirhams, HSBC said in a note on Thursday. The bank also lowered its target for Aldar Properties PJSC to 3.5 dirhams from 3.9 dirhams.
“U.A.E. developers have performed poorly, reflecting concerns over the macro environment in the country,” analyst Patrick Gaffney said in the note. “Residential property is likely to remain weak this year. We assume a 20 percent decline in the overall value of sales at both Damac and Emaar.”"
'via Blog this'
"HSBC Holdings Plc cut its price estimates for Dubai developer Emaar Properties PJSC and peers including Damac Properties Dubai Co., predicting falling revenue and declining property prices in the United Arab Emirates.
Emaar’s price estimate was slashed 26 percent to 8.5 dirhams, while Damac’s is 8 percent lower at 3.4 dirhams, HSBC said in a note on Thursday. The bank also lowered its target for Aldar Properties PJSC to 3.5 dirhams from 3.9 dirhams.
“U.A.E. developers have performed poorly, reflecting concerns over the macro environment in the country,” analyst Patrick Gaffney said in the note. “Residential property is likely to remain weak this year. We assume a 20 percent decline in the overall value of sales at both Damac and Emaar.”"
'via Blog this'
Subscribe to:
Posts (Atom)