European real estate stocks lead losses after hawkish ECB comments

Unibail-Rodamco-Westfield SE

17/01/2024 10:09

** Shares in European rate-sensitive real estate companies fall
after hawkish comments from European Central Bank (ECB)
officials dampened rate cut expectations
** The pan-European STOXX 600 real estate index  .SX86P  slips
2.7% to six-week lows, leading sectoral losses
** ECB President Christine Lagarde said the central bank is on
track to get inflation back to its 2% target but victory had not
yet been won
** British self-storage retailer Safestore  SAFE.L  and
Germany's TAG Immobilien  TEGG.DE  are top fallers, down around
5%. Vonovia  VNAn.DE , Unibail  URW.PA , Kojamo down 2.-2.6%

 (Reporting by Anna Pruchnicka)
 ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))