London pre-open: Sharp losses in store
21st May 2009 07:42
London is expected to start about 50 points lower following losses on Wall Street last night. Pub group Mitchells & Butlers has parted company with chief executive Tim Clarke after reporting a 48% slump in half year pre-tax profit. Profit before tax and exceptional items for the 28 weeks ended 11
Read moreBritish Land sees NAV slump 64%
21st May 2009 07:22
British Land said its net asset value (NAV) per share slumped 64% last year, while its property portfolio lost almost two-thirds in value. The group's portfolio valuation is down by 28.2% and its NAV per share dropped to 398p. The portfolio includes the prestigious Broadgate complex in London. M
Read moreThursday preview: Mitchells & Butlers, British Land, Cable & Wireless
20th May 2009 15:31
Pub group Mitchells & Butlers interim results are expected to show a sharp fall, with broker KBC Peel Hunt going for pre-tax profit of £35m, down 42% from last year's interim figure. KBC said the company is likely to attribute the decline to expiring food and energy contracts. Evolution Securities
Read moreLondon close: Footsie ends on low note
15th May 2009 16:29
London closed lower after a lacklustre afternoon session with losses on properties and travel companies outweighing gains on miners. Shocking figures from property giant Land Securities on Wednesday still cast a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lowe
Read moreLondon afternoon: Travel companies trip Footsie
15th May 2009 14:10
London continues its gentle downward drift, with losses on properties and travel companies outweighing gains on miners. The market seems unlikely to get any sort of lift from Wall Street which is expected to open moderately weaker. Shocking figures from property giant Land Securities on Wednesday
Read moreLondon midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreWeek Ahead: British Land, C&W, SSE
15th May 2009 11:33
Thursday looks like being the big day for results again next week, with British Land, Cable & Wireless and Scottish & Southern Energy all announcing full-year results that day. If this week’s results from fellow property company Land Securities are any guide, British Land shareholders must be await
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