Mulberry boss raises £5.5m from disposal
10th Dec 2010 16:22
Godfrey Davis, the chairman and chief executive of Mulberry, has raised £5.5m from the sale of shares. Davis sold 650,000 shares at 850p each. Shares in fashion products designer Mulberry have risen by more than 500% in the past 12 months. This week, broker finnCap has substantially increased it
Read moreLondon close: Strong gains near the close
25th Nov 2010 16:48
Footsie closed the day healthily in the blue as investors got excited about shopping centre owners and other property groups. Capital Shopping Centres Group (CSC), the shopping centre arm of what used to be Liberty International, raced ahead after it put pen to paper to purchase Manchester's Traffo
Read moreFTSE 100 movers: Capital buys Trafford Centre
25th Nov 2010 13:07
Capital Shopping Centres, the shopping centre arm of what used to be Liberty International, has raced ahead after it agreed the purchase Manchester's Trafford Centre in a deal worth £1.6bn. Capital is paying for the purchase from Peel in shares and convertible bonds. It also intends to raise cash t
Read moreBroker tips: British Land, Autonomy, JD Sports
16th Nov 2010 12:56
Despite trimming full year net asset value estimates KBC Peel Hunt retains a 'buy' for real estate group British Land. The property group's valuation increase in the first half was 2.6%, driven principally by office lettings with only a "modest contribution from yield compression". The 0.7 percent
Read moreBroker snap: Not much to separate two property giants
16th Nov 2010 12:28
Despite trimming full year net asset value estimates KBC Peel Hunt retains a 'buy' for real estate group British Land. The property group's valuation increase in the first half was 2.6%, driven principally by office lettings with only a "modest contribution from yield compression". The 0.7 percent
Read moreLand Secs to refurbish RBS Bishopsgate building
12th Nov 2010 07:21
Bluebutton Properties, the joint venture of Land Securities and Blackstone Group is to refurbish the RBS building in Bishopsgate, near London's Liverpool Street Station. Refurbishment of the 142,000 square foot building is expected to start in summer 2011 with a total cost of around £35m. Propert
Read moreLondon close: Footsie little changed
11th Nov 2010 16:44
Footsie closed little changed, which wasn't a bad result given a triple-digit loss for the Dow when it opened. Ireland was the story breaking as the trading day closed. Yields on benchmark Irish bonds rose to over 9% on reports that the EU might have step in and bail the country out. José Manuel
Read moreLondon afternoon: Financials drag index lower
11th Nov 2010 14:24
An early three-digit loss on Wall Street has the Footsie near its worst levels of the day, with financials the biggest fallers. Insurers Aviva, L&G and Standard Life are deep in the red, as are and RBS and Barclays on fears about Irish debt. Metal heavyweights are limiting the deficit though. Most
Read moreLondon midday: Mining advance fails to lift Footsie
11th Nov 2010 12:14
Big gains from mining companies have failed to haul Footsie into positive territory. The metals groups have marched higher from the off. Antofagasta, Kazakhmys, Xstrata, Fresnillo and Rio Tinto are in demand, as is oil major BP. Iron specialist Ferrexpo is the best performer. Cash is pouring in, o
Read moreLondon open: Small improvement for Footsie
11th Nov 2010 08:16
Blue chips started pretty much as expected, posting reasonable gains in response to yesterday's steady recovery on Wall Street, with commodity plays leading the pack. The Dow Jones was trading deep in the red when London shut up shop Wednesday, but shed nerves ahead of today's G20 meeting in Seoul
Read moreLand Securities says markets better than expected
11th Nov 2010 07:27
Real estate giant Land Securities built underlying profit up by 6% during the first half - excluding valuation gains of £314m - and businesses are now more willing to commit to new space than even the company expected. Revenue profit grew to £135.9m in the six months ended 30 September, up from £12
Read moreLondon close: Footsie closes lower after China rate hike
19th Oct 2010 16:39
Shares fell in the afternoon after a surprise hike in rates in China took investors by surprise and the leading share index finished firmly in the red. The People's Bank of China upped its one-year deposit rate to 2.5% from 2.25%, while the lending rate has been hiked to 5.56% from 5.31%, with effe
Read moreLondon afternoon: Chinese rate rises prompt sell-off
19th Oct 2010 14:24
Having drifted aimlessly during the morning session shares turned briskly south over lunch after China made surprise changes to some of its interest rates. The People's Bank of China upped its one-year deposit rate to 2.5% from 2.25%, while the lending rate has been hiked to 5.56% from 5.31%, with e
Read moreLondon midday: Tech titans' fortunes differ
19th Oct 2010 12:03
London had a subdued morning with investors reluctant to jump too far in one direction ahead of tomorrow's release of the meeting notes from the most recent Monetary Policy Committee chin-wag. There has been some excitement in the tech sector, however, after yesterday's blockbusting results from Ap
Read moreLand Securities in JV with Canary Wharf Group
19th Oct 2010 07:59
Real estate investment trust Land Securities has formed a joint venture with the Canary Wharf Group to develop a property, known as the 'walkie-talkie tower' in Fenchurch Street, London. The existing property, currently a cleared site with some ancillary retail neighbouring holdings, has been sold
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