British Land squeezes more out of UBS with new London HQ
30th Jan 2012 07:03
Swiss banking giant UBS moved a step closer to occupying a new bespoke building in the heart of London's financial district after thrashing out a few fine details over leasing agreements with property owner British Land. Real estate investment trust British Land said development of the 700,000 squa
Read moreBroker tips: CRH, Shire, British Land
5th Jan 2012 17:57
Analysts at Credit Suisse have this morning downgraded their view on European building material companies to 'market-weight' from 'overweight.' Their opinion is that fundamentals and valuations are unattractive as we enter 2012. For that reason they have taken the following actions: downgraded Hei
Read moreBroker snap: Morgan Stanley upgrades Land Securities and British Land
5th Jan 2012 17:30
In a research note on publicly traded European real estate companies dated January 4th analysts at Morgan Stanley wrote that they expect the net asset values of UK real estate investment trusts to decline 5% this year and by another 6% in 2013. Furthermore, the bank believes that UK commercial rea
Read moreTenants signing up for British Land's Whiteley project
2nd Dec 2011 07:34
More than half of the floor area at the Whiteley Shopping Centre in South Hampshire has now been let, British Land said. The real estate investment trust, along with Universities Superannuation Scheme Limited (USS), is ploughing £64m into the development of the 300,000 square feet (sq ft) developme
Read moreTuesday broker round-up - UPDATE
22nd Nov 2011 09:34
British Land: Bank of America-Merrill Lynch upgrades to buy from neutral. Centrica: Goldman Sachs keeps at Conviction Buy. Smith&Nephew: Citi cuts target to 492p from 507p, keeps at sell. Smith&Nephew: Citi reiterates neutral. Thomas Cook: Evolution Securities downgrades from neutral to sell, t
Read moreLondon open: Burberry finds market hard to please
15th Nov 2011 08:03
London has made a hesitant start, with banks and miners a drag on the index in the early going. Investors are reluctant to commit themselves too much ahead of today's inflation figures at 9:30 which will almost certainly require Mervyn King, the governor of the Bank of England, to write another let
Read moreBritish Land's boss hails defensive properties
15th Nov 2011 07:33
The boss of real estate investment trust British Land's hailed the stock's defensive properties as the group unveiled interim figures that showed the group making progress, despite the tough economic environment. "Against the background of slowing economic growth and renewed concern about the Euroz
Read moreLondon pre-open: Burberry powers on
15th Nov 2011 07:31
London is set to continue yesterday's lower trend, with City sources predicting the FTSE 100 will open down 35 points from yesterday's close of 5,519 ahead of today's inflation figures. Fashion label Burberry's adjusted profit before tax in the six months to the end of September rose 26% from a ye
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreBritish Land associate company signs £350m loan
22nd Sep 2011 07:48
Specialist retail warehouse fund Hercules Unit Trust has signed a new £350m five year loan facility underwritten by Aareal Bank AG. The fund, which is advised by British Land, the real-estate investment trust which has a 38.6% interest in the fund, is comprised of an initial term loan and a revolvi
Read moreDebenhams to move HQ to British Land building
20th Sep 2011 07:27
Department store group Debenhams is to move its headquarters to north-west London in the summer of 2013 when work is completed on property giant British Land's mixed-used development at Regent's Place, London, NW1. The real estate investment investment trust has agreed to let 145,000 square feet of
Read moreLondon close: FTSE 100 rises 1% as euro fears ease
14th Sep 2011 16:30
The Footsie finished strongly on Wednesday, gaining over 1%, despite a slow start for US stocks after retail sales were unchanged in August. Stocks were helped on numerous reports of governments riding to the rescue of Europe - such as the BRICs (Brazil, Russia, India, and China) who are said to be
Read moreLondon midday: FTSE 100 buoyant as Next rallies retailers
14th Sep 2011 12:12
The volatility continues with the top share index in the blue now after a weak start. In what it confessed has been a difficult year so far, clothing retailer Next saw half-year sales rise 3% to £1,565m from the year before, while profit before tax jumped 8.5% to £228m. Excluding its Ventura arm, N
Read moreLondon midday: Stocks stay buoyant
8th Sep 2011 12:02
Shares are posting continued gains as investors take an extended break from fretting about the eurozone crisis. Supermarket chain Morrisons' focus on value helped it post sales and profits ahead of expectations in the half year to 31 July. Pre-tax profits rose to £449m from £412m the previous year
Read moreLondon open: Flat start but Home Retail jumps
8th Sep 2011 08:26
Stocks are seeking direction this morning as traders pause for breath following yesterday's big gains Supermarket chain Morrisons' focus on value helped it post sales and profits ahead of expectations in the half year to 31 July. Pre-tax profits rose to £449m from £412m the previous year. Turnover
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