Tesco completes property swap with British Land
20th Mar 2015 08:17
Supermarket group Tesco has swapped ownership of a number of stores and retail parks with commercial real estate giant British Land in a deal worth £733m. Tesco has agreed to take back 21 stores that were part of a joint venture agreement with British Land and were subject to RPI-indexed rent increa
Read moreLondon pre-open: Subdued start expected as UK Budget and Fed meeting loom
18th Mar 2015 07:43
UK stock markets are set for a quiet start on Wednesday morning as investors await two key risk events - the UK Budget statement and the Federal Reserve's latest policy decision. City sources predict the FTSE 100 will open more or less flat on Tuesday's close of 6,837.61. "The UK Budget and the FOM
Read moreBritish Land to spend £50m on Meadowhall refurbishment
18th Mar 2015 07:24
Real estate giant British Land is pumping £50m into Meadowhall to refurbish the Yorkshire shopping centre as the retail destination celebrates its 25th birthday this year. The refurbishment, set to start in autumn 2015 and finish by the end of 2017, will create distinct districts within the centre,
Read moreFTSE 100 movers: Energy stocks and supermarkets trade lower
13th Mar 2015 13:28
Energy stocks declined on Friday, ahead of the Labour Party conference, during which Ed Miliband is expected to outline plans to cut energy prices if his party wins the General Election. SSE and British Gas owner Centrica were both trading lower. Supermarkets Tesco and Sainsbury were trading lower a
Read moreLondon close: Greek concerns send UK stocks to three-week low
9th Mar 2015 17:01
UK stocks fell on Monday, dropping to their lowest in three weeks, as renewed concerns about Greece weighed on sentiment. London's FTSE 100 finished down 0.51% at 6,876.47 by the end of trading on the back of losses in the real estate and construction sectors. The index has not closed below this lev
Read moreFTSE 100 movers: Exane boosts StanChart, sees buy-backs at Glencore
9th Mar 2015 14:04
Analysts at Exane BNP Paribas have hiked their price target on shares of Standard Chartered to 940p from 875p but write that that the chances of a dividend cut are now greater than 50%. On the plus side of things, the broker adds that the lender can now probably avoid a capital increase. On the subj
Read moreLondon midday: Greek fears hit UK stocks as ECB kicks off QE
9th Mar 2015 11:56
UK stocks were trading in the red on Monday despite gains in the heavyweight mining sector as Greek fears dampened sentiment. London's FTSE 100 was down 0.63% at 6,868.56 by midday. Greece's new government has threatened that they could call a referendum or have early elections if the Eurozone reje
Read moreLondon open: Stocks decline on Greek fears, global trade data
9th Mar 2015 08:40
UK stocks fell on Monday morning on the back of renewed concerns about Greece, while investors digested the latest trade data from China and Germany. London's FTSE 100 was down 0.55% at 6,873.61 within the opening hour of trade. Greece's new government has threatened that they could call a referend
Read moreFTSE 100 movers: Banks rebound, British Land boosted by acquisition
2nd Mar 2015 13:18
Banking stocks such as Barclays and RBS topped the risers as share prices rebounded after a weak outing last week following some poorly-received annual results. 2014 figures from Barclays, the last UK lender to report, are due out on Tuesday. Intertek, the product testing and certification outfit, w
Read moreLondon pre-open: Flat start expected after PBoC rate cut, investors await data
2nd Mar 2015 07:39
UK stocks were expected to open broadly flat on Monday ahead of a raft of economic data, with investors continuing to act cautiously with markets near all-time highs. City sources predict the FTSE 100 will open a few points lower than Friday's close of 6,946.66. The index set a new intraday record
Read moreBritish Land acquires Surrey Quays Leisure Park for £135m
2nd Mar 2015 07:12
British Land has acquired Surrey Quays Leisure Park in Canada Water for £135m, according to an investor note released on Monday. The combined sites that British Land has assembled at Canada Water over the last five years came to a total investment of £250m. Chief executive of the company Chris Grig
Read moreBritish Land secures £485m new bank deal
25th Feb 2015 07:05
British Land has signed a £485m unsecured revolving credit facility (RCF), replacing on better terms a facility that would have matured in May 2016. The facility is at an initial margin of 90bps and has been arranged with a syndicate of seven banks. Chief financial officer Lucinda Bell said: "This
Read moreLondon close: UK stocks finish flat as markets pause at 15-year high
18th Feb 2015 16:29
Renewed optimism surrounding Greece gave market sentiment a boost on Wednesday, though stocks had erased gains by the close as investors took profits with the FTSE 100 near its all-time high. The Footsie finished the session down just 0.05 points at 6,898.08, retreating after hitting an intra-day hi
Read moreSector movers: Intu and British Land lead real estate stocks lower
18th Feb 2015 14:55
Real estate groups were among the worst performers in London on Wednesday with broker downgrades hitting shares of heavyweights Intu Properties and British Land. Shopping centre owner Intu fell 3% to 365.2p after analysts at Barclays lowered their rating on the stock from 'equal weight' to 'underwei
Read moreBritish Land begins Paddington Central office development
13th Feb 2015 07:08
British Land has begun development of a new 146,000 square foot office building at Paddington Central. The company acquired the Paddington Central campus early in July 2013 and planning consent for the new property design was originally won back in 2010. Head of office development at British land R
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