Vonovia falls to 2023 lows following Berlin elections results

By Reuters News

** German real estate firm Vonovia VNAn.DE falls 1.7% to its lowest since June 2023 following the results of the Berlin state election, where far-left party Die Linke reached first place

** Die Linke's lead candidate Elif Eralp campaigned on the soaring cost of housing in the German capital and promised to follow through with a pledge to nationalize private housing associations

** "Vonovia holds around 30% on its real estate in Berlin. More a question of sentiment vs federal legal facts, but sentiment and headlines are clearly negative today," Kepler Cheuvreux says

** Peer TAG Immobilien TEGG.DE and LEG Immobilien LEGn.DE were also down 1.7% and 0.65% respectively

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