British Land profits drop as struggles on the high street hit retail portfolio
The property giant warned the retail sector is likely to remain challenging
Company
British Land Company PLC
LON:BLND
The British Land Company (British Land) manages, owns, finances and develops commercial property. Its focus is on the retail and office sectors.
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FTSE 100 closes higher as Trump trade fears ease
The mid-cap FTSE 250 was also a shade higher - adding around two points at 19,369
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More turbulence likely from first-half numbers from travel firm TUI on Wednesday
Aside from the TUI numbers, blue-chip firms including DIY stores group Kingfisher, contract caterer Compass Group and credit checking firm Experian will also issue updates on Wednesday
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Jobs figures take macro spotlight on Tuesday while LandSec leads company reports
Analysts at RBC Capital Markets are expecting the UK jobless rate to remain below 5% for a third successive month
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Burberry, Kingfisher, Thomas Cook and Aston Martin in focus in week ahead
The week ahead's highlights include updates from Burberry, Land Securities, British Land, Premier Foods, Experian, Kingfisher, Aston Martin, Dignity, Centrica, Thomas Cook, On the Beach and Countryside Properties.
British Land, Landsec subside as Barclays eyes more retail property weakness
Analysts downgrade British Land due to its higher exposure to the challenged retail warehouse segment
Debenhams to remain in the hands of lender consortium as administrator fails to find suitable buyer
Celine UK NewCo 1 Ltd, which represents the consortium, said none of the bids received for the chain had been “at the level required to be taken forward”
Debenhams to close 22 stores next year as part of CVA plan
Several London-listed REITs have Debenhams stores on their books
Land Securities lifted by Deutsche Bank to ‘buy’ from ‘hold’ in major review of the London office market
Aside from Land Securities, the German bank’s analysts also upgraded ratings for mid-cap property firms Derwent London and Great Portland Estates both to ‘buy’ from ‘hold’ too
British Land to sell 12 retail superstores from its joint venture with Sainsbury's for £429mln
The group said the move is part of its long term strategy to reduce its Retail exposure to comprise around 30-35% of its business assets, down from around 50% currently
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Blue chips to swerve Thursday’s Brexit fall-out, small caps will be in spotlight
IGas and Gulf Keystone are on the agenda, meanwhile Brexit will likely be a talking point for Eddie Stobart Logistics.
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Brexit date arrives but March 29 to be a damp squib although parliamentary vote might not be
Aside from the latest instalment of the Brexit saga, the week ahead will bring updates from housebuilder Bellway, tobacco firm Imperial Brands, and soft drinks group Fevertree
Philip Green’s Arcadia retail empire considering CVA – media reports
According to Sky News, the billionaire, who has endured a torrid few years, is looking to restructure Arcadia, which is the parent of Top Shop, Burton, Dorothy Perkins and many others
British Land chairman to step down at July AGM
Gildersleeve has served as chairman of the FTSE 100 property developer since January 2013 after having previously joined as a non-executive director in 2008
RBC initiates coverage on six property firms as it turns spotlight on UK real estate
Both LandSec and Tritax were given 'outperform' ratings on the back of an improved risk profile and exposure to the UK industrial property market respectively
Investments and investor services
FTSE 100 finishes in red on China worries and as US benchmarks tumble
The UK blue-chip benchmark finished around 41 points lower at 6,692
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Next to take lead on Thursday with post-Christmas trading update
The clothing retailer is the first of a deluge of updates from the sector expected over the next few weeks, with many forecasting a sharp downturn for the traditionally busy trading period
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High street updates, US jobs, UK PMIs to provide focus after New Year holidays
There will be some key data from the US and UK at the start of the new year, and Christmas retail trading news will be a dominant focus notably from Next PLC
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High street updates, US jobs, UK PMIs to provide focus after New Year holidays
There will be some key data from the US and UK at the start of the new year, and Christmas retail trading news will be a dominant focus notably from Next PLC
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FTSE 100 closes higher but Wall Street lags
The FTSE 250 index, though, fell around 30 points to 18,609 on the day