Yeah,could'nt se RBS forcing the sale of the Corremelinos mall in a market like this. There is one good business in Spain just now. Signwriting for RE agents trying to sell empty properties. The interest is being paid and is 1.7 times covered plus the RE value is about 1.8 times the loan, so whats the pressure, covenant or not? But the chart is a real nailbiter isnt it?
If you keep your head when all about you are losing theirs...I got into CER at 2.8 cents, but not nearly enough of them. How much risk was there? Oh plenty, but the reward possible? Well the numbers since have done the talking. About 17-18 cents now and still not out of the woods. The slightest improvement in news and AEZ will double almost immediately from this price I reckon. Its always darkest before the dawn.
The frozen northern tourists will start coming back as the weather warms up too. Its been a freezing snowy winter, in Europe. A bit of the old Spanish sun and wine would be a nice pick me up after that. They might even do a bit of shopping at our malls. Carmen gettit.
AEZ Price at posting:
4.7¢ Sentiment: LT Buy Disclosure: Held