Exclusively for Pro Subscribers: The U.K.'s property market has been thrown into turmoil after political turmoil saw borrowing costs in the country soar.
The U.K.'s property market has been thrown into turmoil after political turmoil saw borrowing costs in the country soar. Earlier this month, expansive tax cuts announced by U.K. Finance Minister Kwasi Kwarteng sent interest rates on U.K. government bonds to their highest levels in over a decade. This saw British property stocks become less attractive to investors, who turned to government bonds as a higher-yielding — and safer — bets. As a result, investment research group Stifel Europe made "significant" downgrades across the sector. Subscribe to CNBC Pro to see the five stocks that saw the biggest cuts to their price targets by Stifel, along with their ratings. |
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