Broker snap: Panmure upbeat about British Land
20th Nov 2012 10:56
Panmure Gordon has kept its 'buy' recommendation and 570p target price for real estate investment trust British Land following an in-line first half. "You own British Land in the current environment because as we have said in the past: 'it does what it says on the tin'," said analyst Mark Hughes.
Read moreLondon open: Stocks slip as France downgraded
20th Nov 2012 08:45
With another European nation losing its prized 'AAA' rating last night, UK stocks edged into negative territory on Tuesday morning as Eurozone concerns came back into focus ahead of an extraordinary Eurogroup meeting on Greece. Investors are losing options to safeguard their funds in the highest in
Read moreLondon pre-open: FTSE to open lower ahead of Eurogroup meeting
20th Nov 2012 07:30
City sources predict the FTSE 100 will open down 11 points from yesterday's close of 5,738, as markets rebalance following Monday's strong rebound after last week's poor performance. Investors were yesterday cheered by hopes that the US can tackle the 'fiscal cliff' and sustain economic growth ear
Read moreBritish Land Chairman to step down
20th Nov 2012 07:05
Real estate investment trust British Land saw a solid increase in underlying profits in the first half, as it continued to outperform its benchmark of property returns, the IPD (otherwise known as Investment Property Databank). Meanwhile, the firm announced that its Chairman of six years, Chris Gib
Read moreBritish Land set to re-develop Hereford city centre
13th Nov 2012 13:06
Property group British Land has signed a major forward funding agreement that will enable the development of the 310,000 sq ft Old Market scheme in Hereford city centre. The £90m deal is one of the only significant UK retail forward fundings to take place over the last five years and represents a
Read moreBritish Land's head of investment calls it quits
19th Oct 2012 07:23
Steve Smith, a board member and Chief Investment officer (CIO) at British Land, is to stand down next year, the company announced on Friday morning. Smith, 59, who joined real estate investment trust (REIT) as CIO in January 2010, will leave the board on March 31st 2013 and cease working for the co
Read moreLondon & Stamford cashes in at Meadowhall
8th Oct 2012 07:01
Property group London & Stamford (LSP) and its joint venture partner Green Park Investments have disposed of their half-share in the Meadowhall Shopping Centre on the outskirts of Sheffield. Norges Bank Investment Management, Norway's sovereign wealth fund, is paying £1.525bn for a 50% stake in the
Read moreLondon open: Stocks shrug off disappointing Asian data
1st Oct 2012 08:34
- UK stocks make strong gains early on - Japanese, Chinese figures disappoint - Xstrata rises after agreeing terms with Glencore UK equities advanced on Monday morning in spite of some disappointing economic data from Asia as stock markets kicked off the fourth quarter on a positive note. The Bank
Read moreLondon pre-open: Small decline expected in early trading
1st Oct 2012 07:23
City sources predict the FTSE 100 will open down eight points from Friday's close of 5,742, tracking declines seen in Asia overnight and in the US at the end of last week. Concerns over Spain look set to persist this week, with investors expected to pour over the findings of the private-sector aud
Read moreBritish Land buzzes off Beehive Centre in Cambridge -UPDATE
1st Oct 2012 07:02
Property group British Land has sold the Beehive Centre, a retail centre comprising 16 units including an Asda supermarket, to Orchard Street Investment Management. Orchard Street has paid £109.2m for the asset, which reflects a net initial yield of 5.25%. The 238,000 square foot part (sq ft) open
Read moreFTSE 100 movers: Miners rise as utilities sink
21st Sep 2012 14:20
Miners were generally performing well on Friday, clawing back some of yesterday's losses, but utilities are out of favour, especially National Grid, after JP Morgan Cazenove downgraded the stock to "underweight" from "neutral". Traders are still drumming their fingers, waiting impatiently for the
Read moreLondon midday: Stocks tread water
21st Sep 2012 11:50
After a bright start London reversed course shortly after 10:00 and the top-share index is now little changed. Miners are still going well, clawing back some of yesterday's losses, but utilities are out of favour, especially National Grid, after JP Morgan Cazenove downgraded the stock to "underweig
Read moreLondon open: Miners bounce back
21st Sep 2012 08:46
Having taken a hammering yesterday in the wake of the gloomy manufacturing news from China, miners are bouncing back this morning, dragging the Footsie higher. Of all the companies in the mining sector, Xstrata and Glencore are likely to be closely watched ahead of the deadline on Monday relating t
Read moreBritish Land sells seven supermarkets
21st Sep 2012 07:16
Property company British land has offloaded seven food stores to institutional investors. The company sold the gaggle of supermarkets at prices in line with March valuations to raise £118m, of which British Land's share is £62m. The stores were sold at net initial yields of between 4.95% and 5.7%.
Read moreBroker snap: Seymour Pierce closely watching Capital Shopping debt issue
20th Sep 2012 13:46
In a research note sent to clients this morning analysts from Seymour Pierce indicate that they will be closely watching for the success -or not- of real estate investment trust (REIT) Capital Shopping Centres´ just announced debt issue. In their own words, the transaction "[adds] to the prolifera
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