LONDON Deutsche Bank's European equity strategists cut their rating on regional banking stocks to "underweight," saying that the sector is among the most sensitive to swings in euro area growth, which they expect will fade this year, and that valuations are no longer compelling.
HONG KONG Hong Kong's latest attempt at cooling home prices in one of the world's most expensive property markets is expected to send buyers scouring for loans in the unregulated shadow banking industry, spreading risk across the financial sector.
U.S. home prices look poised to rise at a robust pace over the next few years, mainly because of a chronic shortage of houses and steady demand, a Reuters poll showed on Friday.
HONG KONG A Hong Kong-China consortium of property developers on Friday won an auction for a plot of land in Hong Kong's New Territories with a bid of HK$8.33 billion ($1.07 billion), beating market expectations.
NEW YORK Strong earnings from the battered U.S. retail sector, which helped lift Wall Street on Thursday, also boosted shares of the hard-hit real estate investment trusts (REITs) that own the properties where the retailers are located. Sears Holdings Corp , which reported on Thursday its first quarterly profit in nearly two years, brought the retail REITs rally to roughly 7 percent since early least week.
Efforts to rein in Toronto's hot housing market and recent problems at mortgage lender Home Capital are unlikely to hurt Canada's national real estate market as low borrowing costs continue to stoke demand, according to a Reuters poll of analysts.
NEW YORK BlackRock Inc will initially pay about $60 per square foot in rent for its future headquarters in the Hudson Yards district on the far west side of midtown Manhattan, the company said in a filing on Thursday.
BUDAPEST/WARSAW Hungary and Poland will keep monetary policy loose through to 2018, shrugging off rising inflation, while the Czech central bank may be the region's first to tighten later this year, rate setters told the Reuters Central & Eastern Europe Investment Summit.
MOSCOW Russian developers who had hoped to be able to co-invest in Moscow's planned $50 billion program to resettle almost a million residents will only be involved as contractors, the city's deputy mayor told Reuters.
LONDON Daily Mail and General Trust warned on Thursday that underlying revenue in its information business would be lower than previously forecast and posted a fall in first half profit, sending its shares down 10 percent.
Business News Headlines
- Greece, Italy uncertainties dent euro, Asian stocks, lift yen
- Oil slips on oversupply worries despite OPEC deal
- British Airways vows 'never again' after costly IT collapse
- With flights back in the skies, British Airways must now repair damaged reputation
- Singapore fines Credit Suisse, UOB over 1MDB-linked dealings, wraps up review
- Novartis has assets to sell, investors wary of what it might buy
- Dollar, yen gain as European political nerves weigh
- U.S. companies no longer know rules of game under Trump, Hasbro director says
- Shares in BA-owner IAG fall after IT cancellation chaos
- LSE to buy Citi's bonds analysis and indexes business for $685 million