JPMorgan and Merrill Lynch have cut their target prices for Northern Rock.
The US investment banks’ decision follows concern about the impact of credit market turmoil on liquidity, the UK bank’s 2007 profits and mortgage margins.
JPMorgan cut its 2008 sum-of-the-parts price target from 830p to 690p.
Developer teams up with investment manager to expand its build-to-rent portfolio across Western Europe.
Investment volumes in the EMEA real estate market could double in Q4 compared with the numbers registered in Q2 and Q3 thanks to improved market sentiment and delayed deals from earlier in the year finally concluding, according to a capital market expert at Colliers International.
The industry has reacted with anger to the government’s abrupt U-turn on its ‘back to work’ plan – as many property agencies vowed to keep their offices open regardless.
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