British Land closes 310m pound credit facility
12th Jun 2013 06:56
FTSE 100-listed real estate investment trust British Land has confirmed that the new five year unsecured revolving credit facility signed in May 2013 has closed at 310m pounds, following the addition of a further bank. The facility, which has an initial margin of 135 basis points per annum (bps pa
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreFriday newspaper round-up: HSBC, British Land, Tesco...
24th May 2013 06:50
According to The Guardian, the 1.9bn-dollar settlement deal that HSBC agreed with US authorities over money-laundering offences, could be at risk, meaning that the bank could face criminal charges. The original settlement meant that HSBC wouldn't face prosecution but the judge overseeing the case is
Read moreBritish Land pre-lets London development The Leadenhall Building
21st May 2013 07:56
British Land has signed a deal to pre-let its London development, The Leadenhall Building, a joint venture with Oxford Properties. The company has exchanged a binding agreement for lease with Amlin to pre-let 111,000 square feet (sq ft) of the office building, representing 20% of the total space.
Read moreMonday broker round-up UPDATE
20th May 2013 08:32
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating. Amlin: Morgan Stanley ups target price from 428p to 469p, while maintaining an overweight rating. Anite: Espirito Santo cuts target price from 180p to 165p retaining a buy recommendation. Ashtead Group: UBS takes
Read moreSector movers: Property stocks gain as Land Secs jumps to four-year high
15th May 2013 14:51
Land Securities was trading at levels not seen in over four years after its full-year results on Wednesday, providing a big boost to the real estate sector. The commercial property group, which has a portfolio of shopping centres, retail parks and office accommodation, this morning revealed a 4.6%
Read moreLondon midday: FTSE 100 snaps eight-day winning streak as miners fall
14th May 2013 11:50
Strong gains in the utilities sector after a takeover approach for Severn Trent and some well-received results from Babcock International weren't enough to lift markets into positive territory by Tuesday lunchtime, as the FTSE 100 snapped an eight-day winning streak. "The broader market malaise is
Read moreBroker tips: Vodafone, Babcock, British Land
14th May 2013 11:02
Nomura has kept its 'neutral' rating and 195p target price for telecoms giant Vodafone after the announcement of a 2.1bn-pound dividend payment from its stake in Verizon Wireless (VZW). The broker said that Verizon's Chief Executive Officer Lowell McAdam has gone back on his comments last week in w
Read moreBroker snap: Investec downgrades British Land after 'boring' results
14th May 2013 09:08
Investec has moved its long-standing 'buy' rating for real estate giant British Land to 'reduce' after a 'boringly in-line' full-year result on Tuesday. "Preliminary results to end-March show anaemic growth in both earnings and overall capital values - albeit with offices outperforming a declining
Read moreLondon open: Markets flat after strong run, but Severn Trent soars
14th May 2013 08:19
Strong gains for Severn Trent and other utility providers helped offset weakness elsewhere on Tuesday morning as the FTSE 100 paused for breath following an eight-day winning streak. "European markets moved forward modestly today shunning a mixed trading session in Asian stock markets overnight as
Read moreTuesday broker round-up UPDATE
14th May 2013 08:04
Babcock International: Jefferies increases target price from 1080p to 1250p and maintains a buy recommendation. Barratt Developments: Bank of America takes target price from 265p to 325p, while downgrading to neutral. Belgravium Technologies: WH Ireland places both its target price and its neutral
Read moreBritish Land achieves rise in pre-tax annual profit
14th May 2013 07:16
British Land unveiled a 1.9 per cent increase in annual underlying pre-tax profit to 274m pounds, driven by the strong performance of property assets. The real estate investment trust saw the value of its portfolio rise 0.5% to £10.5bn over the year ended March 31st 2013 as demand for pre-lets and
Read moreTuesday preview: British Land and Babcock International report
13th May 2013 15:23
British Land and Babcock International Group will take centre stage Tuesday when the FTSE 100 companies release their annual results. Analysts at Jefferies International expect British Land to report flat net asset value, pre-tax profit and earnings per share. "British Land has a low marginal cos
Read moreLondon midday: BoE keeps rates steady as manufacturing data cheers markets
9th May 2013 11:41
London traded equities were just barely managing to hold steady come midday despite the much better-than-expected industrial production figures out for the UK and the positive results seen at Thursday´s auction of Spanish sovereign debt. Weighing on sentiment were the 'warning flags' which some obse
Read moreLondon open: Chinese price data worries Nomura
9th May 2013 08:01
UK stocks have moved slightly into the blue following an ephemeral dip just after the 'opening bell,' with Chinese price data on the front-burner in what is expected to be another 'light' day in terms of economic data releases. Today´s meeting of the Monetary Policy Committee is expected to be a non
Read more