STOCKS NEWS EUROPE-British Land shares rise after upbeat update

Shares in British Land (LSE: BLND.L - news) rise as much as 2 percent to 675 pence in early trading after the London landlord says it had a strong third quarter with growing demand for its space from office occupiers and retailers.

"We saw increased interest in our office space in London, notably in the City. In retail, the economic recovery is having a positive impact on confidence and we continued to benefit from retailers looking to take space in the best quality location," Chief Executive Chris Grigg says.

Like-for-like occupancy across its portfolio, 39 percent of which is London offices while the rest is retail space across Britain, rises 30 basis points to 97.1 percent in the quarter.

Jefferies analysts call British Land's operating data "study" and say it confirms their expectations of a return to like-for-like return growth. The company's ongoing development push will also deliver top-line and net asset value growth, they say.

To see British Land's statement please click on

Reuters messaging rm://brenda.goh.reuters.com@reuters.net