Refile: BUZZ-Swedish real estate stocks rally on Castellum deal

Sagax AB

06/10/2022 14:51

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** Castellum  CAST.ST  up 14% from Feb. 2016 lows after Akelius
buys 12.2% of Swedish real estate co from M2 Asset Management
for SEK 4.6 billion. M2 owns 6% of Castellum post-sale
** Other Swedish real estate stocks jump on the news.
 urn:newsml:reuters.com:*:nFWN3170DT Fastighets  BALDB.ST , Fabege  FABG.ST , Sagax
 SAGAa.ST , Wallenstam  WALLb.ST  and Wihlborgs  WIHL.ST  up
6.4%-7.4% 
** One trader says the deal has buoyed the whole sector in
Europe: "I think its has fallen too far. It's trading at 29%
discount to NAV"
** European index of real estate stocks  .SX86P  up 1.7%, best
sectoral performer on the STOXX 600  .STOXX , down 0.3%. YTD
still worst performer, down 44.5% 
 (Reporting by Lucy Raitano)
 ((Lucy.Raitano@thomsonreuters.com;))