|Bid||555.80 x 0|
|Ask||556.20 x 0|
|Day's range||549.80 - 573.80|
|52-week range||465.30 - 649.40|
|Beta (3Y monthly)||0.83|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.32 (5.57%)|
|1y target est||N/A|
London's main bourse retreated on Wednesday as traders grew weary of mixed trade signals from U.S. President Donald Trump, while mid-caps slid on the back of weak economic data and a plunge in Tullow Oil. The more internationally-exposed FTSE 100 fell 0.2%, trimming some early losses as exporter stocks such as Diageo and AstraZeneca benefited from a weaker pound. The jump in exporter shares also helped the bourse outperform the broader European benchmark index.
(Bloomberg) -- British Land Co. saw its property holdings decline in value as sharp writedowns of the company’s malls and stores outweighed gains in its development portfolio.The value of British Land’s property portfolio fell by 4.3% to 11.7 billion pounds ($15 billion) in the six months through September, the developer said in a statement on Wednesday. Retail values plunged by 10.7%, reflecting the woes of U.K. malls and high-street stores that are getting battered by the growth of online shopping, rising minimum wages and tax hikes.“We expect retail to remain challenging, so we’ll focus on driving operational performance and maintaining occupancy,” Chief Executive Officer Chris Grigg said in the statement.Shares in British Land fell as much as 2.7% in London on Wednesday.British Land has been attempting to reduce its exposure to stores that have been hit by the upheavals in the way consumers shop. It plans to reduce the share of retail in its portfolio to as little as 30% from the current level of 41%.Rent CutsLike-for-like rental income in the company’s retail portfolio declined by 3.2%, primarily as a result of retailers undertaking so-called Company Voluntary Arrangements, a form of bankruptcy protection that allows them to negotiate rent cuts and closures. About two-thirds of the stores that have been vacated by retailers in British Land’s portfolio since 2017 have since been re-leased, with the company increasingly willing to offer short-term leases to keep occupancy high.“U.K. regional shopping centers are being indiscriminately written-down by about 10% for the past six months, bearing the brunt of major tenant failures like Arcadia and Debenhams,” Bloomberg Intelligence senior analyst Sue Munden said. “The added distraction of a general election during the upcoming peak festive sales period makes the outlook even more uncertain, so valuers are being cautious.”At the same time, the company has persevered with new office-led projects despite Brexit uncertainty, and has been rewarded with resilient demand from tenants and scarce competition among developers that have helped keep rents high. The value of its new developments rose 4.6% in the six-month period, helped when the company won planning approval for the largest project in its history in London’s Canada Water district.About 87% of the company’s recently completed and committed developments are already leased or in advanced negotiations, according to the statement.British Land sold 289 million pounds of property in the period, including a large portfolio of supermarkets. The company sees early signs there may be more willing buyers for certain retail properties, Grigg said in the statement.Earnings per share dropped by 6.4% in the period to 16.1 pence following a string of property sales. The company’s net asset value declined by 5.4%, with buybacks partially offsetting the falling values.(Updates with shares in fourth paragraph.)To contact the reporter on this story: Jack Sidders in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Shelley Robinson at email@example.com, Patrick HenryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
* Earnings drive top movers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. European stocks edged higher today as investors found some comfort on a scaling-back of recession bets amid optimism about a China-U.S. trade deal. With this string of not-great but good-enough news, the Euro stocks index hit its highest since February 2018, while European blue chips had their best day in two years with the banking sector enjoying its best session in six months.
* Earnings drive top movers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Germany has long been dragging its feet on such a project that included a common deposit insurance scheme and clearly its new stance is a welcome development but, as always, there is a but and, of course, the devil is in the details.
* Earnings drive top movers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. A post by Ray Dalio's Linkedin (find it here: https://bit.ly/2qo3IdR ) is doing the rounds this morning, with the hedge fund billionaire putting his finger on the big debate raging around quantative easing and MMT amid growing global discontent. The theme, as it turns out, has emerged as a central topic in the Reuters Global Investment Outlook Summit.
* Earnings drive top movers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Yes, that massive amount of cash is likely to flow into ESG funds as the theme has become mainstream, especially in Europe.
* Earnings drive top movers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. It's a rare thing to witness: at one stage this morning, the UK high street theme was top of the FTSE 100, FTSE 250 and the British small cap index.
London's FTSE 100 edged up on Wednesday, adding to a 2% gain over the past three sessions, as investors waited for news on U.S.-China trade talks before making further bets, while mall operator Intu dropped on signs it may seek to sell more shares. The FTSE 100, which had been holding at a near one-month high this week, rose 0.1%, while the FTSE 250 dipped 0.4% as the pound weakened slightly ahead of a Bank of England's interest rate decision on Thursday.
British shopping centre operator Intu Properties said on Wednesday it could raise equity, alongside asset sales, to tackle its debt burden, knocking nearly 18% off its share price. "Our number one priority is to fix the balance sheet ... options include disposing of assets, where we are in the advanced stages of selling two of our Spanish assets, through to raising equity," Matthew Roberts, Intu's chief executive, said. Intu shares were down 14% at 0941 GMT after the owner of Manchester's Trafford Centre also said it expects annual like-for-like net rental income to be down by about 9% and predicted another decline in 2020, although at a slower rate.
I’m optimistic about the long-term return prospects for these two FTSE 100 (INDEXFTSE:UKX) shares due in part to their low valuations.
Thinking about buying some FTSE 100 dividend dynamos for your Stocks & Shares ISA? Royston Wild identifies one which should be avoided at all costs.
All of the allies — who must be senior executives who are not LGBT+ but support LGBT+ inclusion — were nominated by peers and colleagues, or put themselves forward.
I think these two FTSE 100 (INDEXFTSE:UKX) income shares appear to offer favourable prospects when compared to a Cash ISA.
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see British Land...
I think these two FTSE 100 (INDEXFTSE: UKX) shares have a lot to offer any investor looking to maximise returns from their cash.
British Land Company Plc (LON:BLND) shareholders should be happy to see the share price up 14% in the last month. But...
Shares in Britain's Intu Properties surged as much as 22% on Monday on speculation a private equity group could buy out the shopping centre operator, which has been hit by high-profile retail failures and a hefty debt burden. The Sunday Times reported http://bit.ly/2HUdHxb that private equity firm Orion Capital Managers, founded by Aref Lahham, is in the early stages of finding partners for a buyout of Intu, which owns the Trafford Centre in Manchester. Intu declined to comment on the Sunday Times report.