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Pin to quick picksHammerson Share News (HMSO)

Share Price Information for Hammerson (HMSO)

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Share Price: 28.30
Bid: 28.28
Ask: 28.36
Change: 0.20 (0.71%)
Spread: 0.08 (0.283%)
Open: 28.12
High: 28.36
Low: 28.10
Prev. Close: 28.10
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LONDON MARKET OPEN: Europe slides into red, with focus on US jobs

Fri, 04th Mar 2022 09:07

(Alliance News) - European stocks were on the back foot on Friday morning, with London outperforming its mainland peers, with fears of the war in Ukraine escalating sending investors in search of safe havens.

Richard Hunter, Head of Markets at interactive investor, said: "Risk assets lurched lower once more following reports of an attack on a nuclear plant in Ukraine, while commodities continued their rise amid the inflationary impacts of the conflict.

"The scarcity of positive catalysts at present presents another dilemma for investors, particularly those with a shorter time-frame. Haven investments have been of interest, and for those with a steelier disposition the commodities space has also attracted buying attention. However, for most investors the current twin perils of geopolitical tensions and persistent inflation have led to levels of inactivity which are unlikely to improve until such time as the fog clears."

The FTSE 100 index was down 116.56 points, or 1.6%, at 7,122.29 early Friday. The mid-cap FTSE 250 index was down 259.70 points, or 1.3%, at 19,820.61. The AIM All-Share index was down 13.17 points, or 1.3%, at 991.47.

The Cboe UK 100 index was down 1.5% at 709.13. The Cboe 250 was down 1.8% at 17,415.09, and the Cboe Small Companies down 0.5% at 14,496.53.

In mainland Europe, the CAC 40 in Paris and the DAX 40 in Frankfurt were both 2.0% lower.

Russian forces seized control of Europe's largest nuclear power plant on Friday after a battle with Ukrainian troops that caused a fire and fears of a catastrophic accident.

The Ukrainian nuclear regulator said that the fire had been extinguished and no radiation leak had been detected, with site staff still able to work at the Zaporizhzhia site.

"The Zaporizhzhia NPP site has been seized by the military forces of the Russian Federation," the State Nuclear Regulatory Inspectorate of Ukraine said, in a statement.

"The fire was extinguished by the Ukrainian State Emergency Service units. Information on the dead and injured is absent."

Earlier, fighting had erupted between Russian invasion forces pushing towards the city of Zaporizhzhia and Ukrainian defenders, causing a blaze at the plant and global alarm.

Swissquote Senior Analyst Ipek Ozkardeskaya said risk appetite "remains limited" due to the escalation of fighting in Ukraine - and a potential nuclear disaster.

Ozkardeskaya said: "Investors are unlikely to open or to hold a long position without putting a hedge on it. This is why we shall continue seeing a solid demand in the safe-haven gold in the coming days, as the price of an ounce consolidates above the USD1,930 mark this morning."

Gold stood at USD1,939.40 an ounce, higher from USD1,928.05 late Thursday. Brent oil was quoted at USD110.21 on Friday morning, down from USD113.62 late Thursday, but hit an intraday high of USD119.84 yesterday.

"Commodities perform well in the actual war-shaken market environment...given that the disruptions to the Russian and Ukrainian supply push the commodity prices higher, from grains to industrial metals. However, if the things get bad enough to push investors to close their positions, then the US dollar would be, by far, the best hedge," Ozkardeskaya added.

The pound was quoted at USD1.3308 early Friday, down from USD1.3341 at the London equities close Thursday.

The euro was priced at USD1.1012, down from USD1.1047. Against the yen, the dollar was trading at JPY115.41, lower against JPY115.63.

In London, Russian steelmaker Evraz was 21% higher on Friday morning, fighting back after a torrid week of losses, benefiting from the surging commodity prices and news late Thursday it will avoid being suspended from the London Stock Exchange. The stock is down 64% over the past five days and 87% in the past month.

LSEG on Thursday announced the suspension of listings of 27 Russia-linked firms after sanctions were imposed due to the nation's invasion of Ukraine. The exchange had already blocked a division of Russian bank VTB last week in the wake of the sanctions.

The exchange announced more suspensions on Friday, including of the global depositary receipts of Etalon Group PLC, PJSC Magnit and Sistema PJSFC.

Absent from the list of suspensions have been Evraz and gold miner Polymetal International, which continue to trade in London despite outcry from politicians.

Despite the good news, Polymetal was down 3.7% after JPMorgan downgraded the firm to neutral.

Both companies were demoted from the FTSE 100 as part of the latest index review changes after collapsing in value since Russia launched its attack on Ukraine.

On Friday, Evraz said James Rutherford, the chair of Egyptian gold miner Centamin, has resigned as a non-executive director, having only joined the Evraz board in June of last year.

Morgan Advanced Materials was leading London midcaps, up 8.7%, after it said it swung back to profit in 2021 despite a "challenging" year.

For 2021, pretax profit was GBP104.3 million, compared to the GBP1.8 million loss in 2020, on revenue that grew 4.4% to GBP950.5 million from GBP910.7 million.

Morgan Advanced declared a total annual shareholder payout of 9.1 pence, up from 5.5p in 2020.

Chief Executive Pete Raby said: "In spite of the challenges, we have made good progress as a business, with further implementation of our strategy and progress against our long-term goals. This resulted in strong growth and saw margins at their highest point in more than 20 years."

For 2022, the firm is guiding for revenue growth of 4% to 7%.

Hammerson was up 1.6%.

The shopping centre owner said it cut its pretax loss to GBP408.0 million in 2021 from GBP1.74 billion in 2020, in a year of "fundamental change".

The narrowed loss was aided by a GBP457.5 million revaluation loss on its managed properties, which had been GBP1.44 billion in 2020. Hammerson also recorded a GBP171.3 million loss from joint ventures in 2021, compared to a whopping GBP880.2 million loss in 2020.

Gross rental income fell to GBP241.6 million from GBP286.9 million.

It declared a final dividend of 0.2 pence, unchanged from the year before.

"Since the beginning of 2021, we have made fundamental changes in our business, realigning our portfolio with GBP623 million of disposals, significantly strengthening the balance sheet, re-setting our organisation and putting in place a clear strategy for value creation focused on our prime urban estates," Chief Executive Rita-Rose Gagne said.

Hammerson's shopping centres include the Bullring in Birmingham, Brent Cross in London, and Cabot Circus in Bristol.

At the other end of the FTSE 250, Mitie was down 5.9%.

The UK competition regulator has launched an investigation into whether the outsourcing firm has broken competition law in relation to a procurement process for immigration removal centre contracts run by the Home Office.

The Competition & Markets Authority said it had launched a probe on Tuesday over "suspected anti-competitive conduct" related to the ongoing process to find firms to operate certain services at Heathrow and Derwentside immigration removal centres.

The regulator added that "no assumption should be made at this stage" that competition law has been infringed. Mitie confirmed it has engaged with the tender process for the immigration removal centre contracts and said it expects to be "fully exonerated" through the CMA investigation.

The investigation was launched into the Mitie Group, Mitie Care and Custody and PAE entities.

Mitie told shareholders it withdrew from the tender process for the Derwentside centre due to rules stopping one firm from winning both contracts. It added that it remains engaged in the process for the Heathrow contract, though its Care & Custody arm.

In Asia on Thursday, the Japanese Nikkei 225 index closed down 2.2%. In China, the Shanghai Composite ended down 1.0%, while the Hang Seng index in Hong Kong lost 2.5%. The S&P/ASX 200 in Sydney closed down 0.6%.

Still to come on Friday, the economic calendar has EU retail trade at 1000 GMT and the all-important US monthly jobs report at 1330 GMT.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
16 Mar 2022 10:54

IN BRIEF: Hammerson completes Silverburn mall sale for GBP140 million

Hammerson PLC - London-based retail-focused real estate investment trust - Completes the sale of Silverburn shopping centre in Glasgow, Scotland. Asset is sold via its 50/50 joint venture with Canada Pension Plan Investment Board to entities affiliated with UK private equity real estate manager Henderson Park and Spanish property developer Eurofund Group for GBP140 million. Hammerson's share is GBP70 million, according to a release made mid-December.

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4 Mar 2022 09:27

Liberum stays at 'sell' on Hammerson, 'still long way to go to rebuild business'

(Sharecast News) - Analysts at Liberum reiterated their 'sell' recommendation for shares of Hammerson, telling clients that there was "still a long way to go" to rebuild the property developer's business.

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4 Mar 2022 09:11

Hammerson annual loss narrows on improved occupancy, collections

(Alliance News) - Hammerson PLC reported on Friday it had trimmed its loss in 2021 as footfall benefited from relaxed Covid-19 restrictions, a boost in occupancy and improved rental collections.

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4 Mar 2022 08:21

LONDON BRIEFING: Hammerson narrows loss amid "fundamental changes"

(Alliance News) - Shopping centre owner Hammerson on Friday said it cut its pretax loss to GBP408.0 million in 2021 from GBP1.74 billion in 2020, in a year of "fundamental change".

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4 Mar 2022 08:00

LONDON MARKET PRE-OPEN: Hammerson loss narrows; Mitie sees scrutiny

(Alliance News) - Stock prices are seen opening lower on Friday after scares of a nuclear disaster in Ukraine following direct shelling of a nuclear power plant, while a business group has downgraded its expectations for UK economic growth this year.

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4 Mar 2022 07:03

Hammerson adjusted earnings rise as net loss narrows

(Sharecast News) - Retail property owner Hammerson reported a rise in adjusted earnings as the easing of Covid restrictions saw a rebound of footfall to its shopping centres.

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3 Mar 2022 14:01

Friday preview: Ukraine conflict, US jobs report in the spotlight

(Sharecast News) - Investors will continue to carefully monitor the news-flow out of Ukraine, especially the latest news around an attack against Europe's largest nuclear reactor.

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25 Feb 2022 15:54

UK earnings, trading statements calendar - next 7 days

Monday 28 February 
Associated British Foods PLCTrading Statement
BATM Advanced Communications LtdFull Year Results
Bunzl PLCFull Year Results
CentralNic Group PLCFull Year Results
GlobalData PLCFull Year Results
Greencoat Renewables PLCFull Year Results
Grit Real Estate Income Group LtdHalf Year Results
Kitwave Group PLCFull Year Results
Kosmos Energy LtdQ4 Results
Made Tech Group PLCHalf Year Results
OncImmune Holdings PLCHalf Year Results
RHI Magnesita NVFull Year Results
Tuesday 1 March 
abrdn PLCFull Year Results
Croda International PLCFull Year Results
Flutter Entertainment PLCFull Year Results
Hotel Chocolat Group PLCHalf Year Results
Intertek Group PLCFull Year Results
Man Group PLCFull Year Results
PCI-PAL PLCHalf Year Results
Quartix Technologies PLCFull Year Results
Reach PLCFull Year Results
Revolution Bars Group PLCHalf Year Results
Rotork PLCFull Year Results
Travis Perkins PLCFull Year Results
Uniphar PLCFull Year Results
Vitec Group PLCFull Year Results
XP Power LtdFull Year Results
Wednesday 2 March 
Polymetal International PLCFull Year Results
Just Eat Takeaway.com NVFull Year Results
Vistry Group PLCFull Year Results
Nichols PLCFull Year Results
Hotel Chocolat Group PLCHalf Year Results
Devro PLCFull Year Results
KRM22 PLCFull Year Results
Supermarket Income REIT PLCHalf Year Results
Foxtons Group PLCFull Year Results
Persimmon PLCFull Year Results
Hiscox PLCFull Year Results
musicMagpie PLCFull Year Results
Vivo Energy PLCFull Year Results
Aviva PLCFull Year Results
Thursday 3 March 
Admiral Group PLCFull Year Results
Avation PLCHalf Year Results
Coats Group PLCFull Year Results
CRH PLCFull Year Results
Darktrace PLCHalf Year Results
Dotdigital GroupFull Year Results
Elementis PLCFull Year Results
Empiric Student Property PLCFull Year Results
Entain PLCFull Year Results
Franchise Brands PLCFull Year Results
Galliford Try Holdings PLCHalf Year Results
Hansard Global PLCHalf Year Results
Hutchmed (China) LtdFull Year Results
ITV PLCFull Year Results
London Stock Exchange Group PLCFull Year Results
Meggitt PLCFull Year Results
Melrose Industries PLCFull Year Results
Mondi PLCFull Year Results
PageGroup PLCFull Year Results
Rentokil Initial PLCFull Year Results
Schroders PLCFull Year Results
Spire Healthcare Group PLCFull Year Results
Synthomer PLCFull Year Results
Taylor Wimpey PLCFull Year Results
Tritax Big Box REIT PLCFull Year Results
Tyman PLCFull Year Results
Friday 4 March 
FBD Holdings PLCFull Year Results
Hammerson PLCFull Year Results
Morgan Advanced Materials PLCFull Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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25 Feb 2022 11:54

Hammerson completes sale of Leeds assets for GBP120 million

(Alliance News) - Hammerson PLC on Friday said it has sold its non-core assets in Leeds, England to Swiss property investor Redical Holdings AG for GBP120 million in cash.

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21 Feb 2022 08:58

LONDON MARKET OPEN: Stocks rise on hope of US-Russia summit on Ukraine

(Alliance News) - Stock prices in London opened higher on Monday on hopes of a summit about Ukraine between US President Joe Biden and Russian President Vladimir Putin.

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21 Feb 2022 08:33

Hammerson confirms talks for potential sale of Leeds shopping centres

(Alliance News) - Hammerson PLC on Monday confirmed that it is in discussions with entities related to Swiss property investor Redical Holdings AG for the sale of its Victoria Gate and Victoria Quarter shopping centres in Leeds.

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21 Feb 2022 07:48

LONDON MARKET PRE-OPEN: Dechra raises dividend after strong results

(Alliance News) - Stock prices in London are seen opening higher on Monday on the possibility of a summit about Ukraine between US President Joe Biden and his Russian counterpart Vladimir Putin.

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21 Feb 2022 07:04

Hammerson confirms talks on sale of two shopping centres

(Sharecast News) - Commercial property landlord Hammerson confirmed it was in talks over the possible sale of its Victoria Gate and Victoria Quarter shopping centres for £120m as it looked to strengthen its balance sheet after the Covid-pandemic.

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20 Feb 2022 22:05

Sunday newspaper round-up: Canadian beef, Rio Tinto, Credit Suisse

(Sharecast News) - Britain is prepared to reject Canadian beef treated with hormones, dealing a setback for the trade talks, which had been due to formally start in April. One Whitehall source said there was "very little room to move" on food standards and that it would be extremely difficult to climb down on the issue. Trade officials confirmed that food standards would be a "red line" during the negotiations. - Sunday Telegraph

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