Company
LON:HMSO
Hammerson PLC is a commercial and retail property developer and manager with a diverse range of investments in the United Kingdom and continental Europe.
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The US bank also reduced its target price for Hammerson to 410p, down from 610p previously, with the shares currently trading at 344.80p, 3.7% below Friday’s close
Investments and investor services
The UK's blue-chip index finished down nearly seven points at 6,96, while FTSE 250 was also lower
In a bullish note on European real estate, analysts at Deutsche upped both firms to 'buy' from 'hold', however, it was bittersweet as both also had their target prices cut
The FTSE 250 retail property developer said at 31 December, it had executed around 43% of its £300mln target, with the programme to run over the twelve months to July 2019
John Whittaker and his Canadian and Saudi Arabian backers originally had until tomorrow to either make a formal offer or walk away, but the deadline has been pushed back a week
Barclays' analysts concluded: “We do not know how deep the rabbit hole goes but the retail asset market is experiencing asymmetric downside risk"
The consortium comprising John Whittaker's Peel Group, Saudi Arabia’s Olayan and Canadian property investor Brookfield Asset Management initially offered 205p per Intu share on October 11
Some of the main risers and fallers in London on Friday...
Having been prompted by press reports to reveal it is pondering a bid, the consortium has until 5.00pm on November 1 to either make a move or walk away
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
"Our negative stance on retail makes us increasingly cautious on the stock even at this price," UBS said
A look at some of the London market's biggest risers and fallers on Wednesday
“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola
The US bank also cut is target price for the FTSE 250-listed stock back to 565p from 600p, with the shares currently changing hands at 512p each, down 3.2%
The disposal target by the end of 2019 is now £1.1bn, with £300mln already delivered year to date. "While this may be sensible, there is a risk that this saturates the market at an inopportune moment," Liberum said
The global financial body added that several countries, including the US and UK, had excessive current account deficits and borrowed too much
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Aside from the soft drinks firms and brewer, the day ahead on Tuesday includes updates from blue-chip real estate firm Hammerson and student acommodation group Unite
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Over the five sessions in the Week Ahead, around 20% of the FTSE 100 index will report results or issue a trading update, with about half that number due on Thursday alone
The UK's premier index added over 25 points at 7,712, with resource stocks taking up four of the top five positions.
Investments and investor services
Naturally, most deals ultimately boil down to valuation - this is capitalism after all
