Vonovia jumps as election relief offsets expropriation angst

Deutsche Wohnen SE

27/09/2021 10:17

** Vonovia  VNAn.DE  jumps 4% to the top of the DAX  .GDAXI  as
relief over the outcome of national and Berlin elections offsets
concerns over an expropriation push in the German capital
** A majority of voters in Berlin wants city hall to expropriate
major landlords such as Vonovia and Deutsche Wohnen  DWNG.DE  to
help reduce rents in the German capital, a non-binding
referendum shows  urn:newsml:reuters.com:*:nL1N2QT0AE
** "It is remarkable that the referendum in Berlin did not put
massive pressure on real estate shares. It probably also helps
that the moderate SPD candidate was in the lead and that the
implementation will probably not be radical," says Roger
Peeters, Managing Partner at pfp Advisory  
** Provisional results on Monday show the SPD won the regional
election to lead the state government in Berlin  urn:newsml:reuters.com:*:nL8N2QT0HS
** Stefan de Schutter, portfolio manager at Alpha Trading, says
results of the national election is also a relief for Vonovia:
"A far left coalition with (the) Left party and thus the
expropriation of real estate in Germany seems off the table"
** Other property stocks also rise. Leg Immobilien  LEGn.DE  is
up 2.9%

 (Reporting by Danilo Masoni)
 ((Danilo.Masoni@TR.com))