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BUZZ-Savills: boosted by Citi upgrade

Wed, 17th Aug 2016 08:45

** Estate agent Savills up c.5 pct & 3rd top FTSEmidcap gainer as Citi raises rating to "buy" from"neutral"

** Brokerage flags co trading at c.20 pct discount to longterm historic avg share price & limited exposure to the UK makesit attractive

** Co gets only about 1/3 of its rev from the UK as it hasbeen increasingly diversifying and now has reduced exposure tothe UK deals advisory market, Citi says

** Post Brexit, Countrywide warned on FY coreearnings, while London-focused estate agent Foxtons H1profit fell 42 pct due to vote uncertainty hitting deals

** Over a quarter of 30-day avg vols traded by 0758 GMT

** Up to Tuesday's close, stock had fallen c.21 pct YTD vs a c.22 pct fall in the FTSE 350 Real Estate Investment & Servicesindex ; co biggest gainer on index on Wednesday (RM:sanjeeban.sarkar.thomsonreuters.com@reuters.net)

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