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SA investors are clearly jittery about Russia’s invasion of Ukraine, judging by last week’s sell-off of East European-focused Nepi Rockcastle.

The JSE’s largest real estate counter, with a market cap of R60bn, has dropped 5.4% since releasing a solid set of results last week for the year to December. Trading patterns in Nepi Rockcastle’s shopping centres have largely recovered to close to pre-Covid levels. More encouraging is that retailers have seemingly started to resume expansion plans in the region, which were put on hold when the pandemic hit in 2020...

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