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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
REAL ESTATE
Property News flow:
- Equinix EQIX was the week’s biggest mover in the equity market with a rally of over 10% on news that their internal investigation into the accounting treatment of AdjFFO was compliant with rules. Otherwise, the company’s results were inline with expectations and showed an 85th consecutive quarter of growth.
- WP Carey brought a new long 8yr which successfully upsized to EUR 650m from 500m and priced with zero NIC at ms+160. Bonds have rallied -8bps tighter in secondary.
- Digital Realty DLR raised $1.47bn in equity to facilitate further growth.
- Most of the news on the week centred around earnings releases. The best performer this year so far has been Goodman which is up 33% ytd and +70% over 12 months. GMGAU has moved heavily into Data Centres with the sector now accounting for 40% of its new business. GMGAU bonds were -3bps better week-on-week following a company update.
Next week’s earnings:
13th Inmobiliaria Colonial COLSM
15th LEG Immobilien LEGGR
16th Tritax Eurobox EBOXLN, Merlin Properties MRLSM
17th Grand City Properties GYCGR
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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