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Tuesday,15 November 2022 at 17:14
Land Securities swung to a loss in the first half of its financial year as soaring
interest rates triggered a sharp decline in the value of its multibillion-pound
The portfolio, which includes the Bluewater shopping centre in Kent and the
Piccadilly Lights in central London, fell in value by 2.9 per cent to £10.9
billion between April and September.
Analysts at Goldman Sachs last month predicted that, come summer 2024, values
of offices, shops and warehouses in the UK would be 15 per cent to 20 per cent
lower than where they were this summer.
UK and European markets
advanced after another report signalled that U.S.
inflation could be slowing, boosting bets that the Federal Reserve may ease up
on interest rate hikes.
U.S. stocks surged after
new inflation data provided fresh signs that prices may be cooling.
Oil prices rose even as
rising Covid-19 cases in China renewed fears of lower fuel consumption from the
world’s top crude importer.
Gold priced lower.
At the close
FTSE 100 7,369 (-0.21%)
FTSE 250 19,455 (-0.85%)
DAX 14,378 +0.46%
Dow Jones 33,760 +0.67%
S&P 500 4,014 +1.47%
NASDAQ 11,471 +2.50%
UK 10-YR YIELD 3.294
Gold $1,769 +0.02%
Brent $93.10 +0.71%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.