1 Nov 2022 07:56
LONDON BRIEFING: FTSE 100 to open higher; BP swings to profit
(Alliance News) - Stocks in London are set to open in the green on Tuesday, as the US Federal Reserve policy meeting gets underway.
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Don't have an account? Click here to register.JP Morgan sees rents falling as it cuts ratings for commercial property
Mon, 21st Jan 2019 11:50
(Sharecast News) - JP Morgan Cazenove has downgraded a host of European property companies, including FTSE 250 firm Hammerson, as the UK retail sector continues to battle weak consumer sentiment.The bank, which last downgraded the sector in September 2018, said in a note published on Monday that it was factoring in even lower rental growth for European retail property owners."This is due to the deterioration in UK retail news flow which accelerated through Christmas 2018 and into the new year," it explained. "We believe that buyers of malls will increasingly incorporate expectations of negative future rental growth into their forecasts, which will be reflected in outward yield shift going forward."It added: "We also reflect investor risk appetite for listed retail companies by taking a more conservative capital structure for our [weighted average cost of capital] estimates."The UK's retail sector has struggled as uncertainly around Brexit curtails consumer spending despite high employment and accelerating wage growth. A number of big-name retailers, including John Lewis, Marks & Spencer and Debenhams, have reported disappointing festive seasons, while HMV called in the administrators three days after Christmas.In November, shares in Intu Properties - owner of Old Trafford in Manchester and Lakeside in Essex - plunged after a consortium blamed macroeconomic uncertainly and "volatility across markets" for walking away from a £2.9bn takeover offer.The Royal Institution for Chartered Surveyors has even taken the unusual step of warning valuers to be aware of potential for "significant changes in value" when valuing retail properties. According to The Sunday Times, RICS issued the guidance in December.RICS also told valuers to be aware of "seismic" shifts in shopping habits, as shoppers continued to abandon bricks and mortar for online rivals, leaving retailers eager to get out of costly, long-term leases.As well as Hammerson, owner of the Bullring in Birmingham, European retail owners downgraded by JP Morgan Cazenove include Shaftesbury, which owns properties in London's West End, and in-town shopping centre operator Capital & Regional. All were cut to 'neutral' recommendations. Overall, JP Morgan Cazenove said it had downgraded price targets by an average of 13.9% for 20 stocks.As at 12.30pm GMT, shares in Hammerson were off 3%, Shaftesbury was flat at 837p and Capital & Regional was unchanged at 29p.
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1 Nov 2022 07:47
Shaftesbury H2 valuation falls on economic ouitlook
(Sharecast News) - West End real estate owner Shaftesbury said occupancy and footfall continued to rebound from the Covid pandemic, but warned that its portfolio valuation fell in the second half due to the worsening economic outlook.
Read more1 Nov 2022 07:41
Capital & Counties confident for Christmas after 'resilient' third quarter
(Sharecast News) - West End landlord Capital & Counties Properties said it remained well placed for the key Christmas trading period on Tuesday, despite the weakening economic outlook.
Read more26 Oct 2022 17:16
Capco, Shaftesbury tie-up now expected in first quarter of 2023
(Alliance News) - Capital & Counties Properties PLC's acquisition of Shaftesbury PLC's is to be sealed in the first quarter of next year, as a UK watchdog is yet to begin a probe on the deal.
Read more31 Aug 2022 09:54
LONDON BROKER RATINGS: Berenberg likes Workspace, less keen on peers
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:
Read more2 Aug 2022 09:48
Capital & Counties trims loss in first half as conditions improve
(Alliance News) - Capital & Counties Properties PLC said on Tuesday its interim loss shrank as trading conditions remained uninterrupted by coronavirus.
Read more18 Jul 2022 19:55
IN BRIEF: Shaftesbury engages over failed AGM resolutions
Shaftesbury PLC - London West End property investor - Updates on resolutions that failed to pass at its annual general meeting back in February. The resolutions concerned dis-application of pre-emption rights, and failed to achieve 75% of the vote. Engages with the shareholder concerned who maintains that following the capital raise in 2020, the authorities to be granted granted under the resolutions were "unlikely to be imminently required".
Read more8 Jul 2022 07:46
Capital & Counties Properties operations stay "positive" in first half
(Alliance News) - Capital & Counties Properties PLC has reported that its operational performance in the first half remained "positive" on the back of strong leasing demand and high occupancy levels.
Read more1 Jul 2022 09:53
LONDON BROKER RATINGS: Citi cuts abrdn and Jupiter Fund Management
(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:
Read more1 Jul 2022 07:34
Berenberg lowers target price on CapCo and Shaftesbury
(Sharecast News) - Analysts at Berenberg lowered their target prices on both Capital & Counties and Shaftesbury on Friday as it took a fresh look at the UK real estate sector.
Read more24 Jun 2022 15:58
UK dividends calendar - next 7 days
| Monday 27 June | |
| Henderson European Focus Trust PLC | dividend payment date |
| Kingfisher PLC | dividend payment date |
| Tuesday 28 June | |
| Civitas Social Housing PLC | dividend payment date |
| Ferrexpo PLC | dividend payment date |
| Wednesday 29 June | |
| Menhaden PLC | dividend payment date |
| Victrex PLC | dividend payment date |
| Thursday 30 June | |
| Alliance Trust PLC | dividend payment date |
| Atlantis Japan Growth Fund Ltd | dividend payment date |
| Burberry Group PLC | ex-dividend date |
| Caledonia Investments PLC | ex-dividend date |
| Caledonia Investments PLC | special ex-dividend date |
| Cardiff Property PLC | dividend payment date |
| Chelverton UK Dividend Trust PLC | ex-dividend date |
| Diversified Energy Co PLC | dividend payment date |
| Downing Renewables & Infrastructure Trust PLC | dividend payment date |
| F&C Investment Trust PLC | ex-dividend date |
| HICL Infrastructure PLC | dividend payment date |
| iEnergizer Ltd | ex-dividend date |
| Imperial Brands PLC | dividend payment date |
| IntegraFin Holdings PLC | dividend payment date |
| IP Group PLC | dividend payment date |
| Learning Technologies Group PLC | ex-dividend date |
| Liontrust Asset Management PLC | ex-dividend date |
| Lowland Investment Co PLC | ex-dividend date |
| NextEnergy Solar Fund Ltd | dividend payment date |
| Palace Capital PLC | ex-dividend date |
| Premier Foods PLC | ex-dividend date |
| Premier Miton Global Renewables Trust PLC | ex-dividend date |
| Record PLC | ex-dividend date |
| Schroder Real Estate Investment Trust Ltd | dividend payment date |
| SDCL Energy Efficiency Income Trust PLC | dividend payment date |
| Serica Energy PLC | ex-dividend date |
| Smart Metering Systems PLC | ex-dividend date |
| Spectris PLC | dividend payment date |
| Tate & Lyle PLC | ex-dividend date |
| Temple Bar Investment Trust PLC | dividend payment date |
| Treatt PLC | ex-dividend date |
| Troy Income & Growth Trust PLC | ex-dividend date |
| Urban Logistics REIT PLC | ex-dividend date |
| Vertu Motors PLC | ex-dividend date |
| Warehouse REIT PLC | dividend payment date |
| Watkin Jones PLC | dividend payment date |
| Friday 1 July | |
| AJ Bell PLC | dividend payment date |
| Aurora Investment Trust PLC | dividend payment date |
| Bellway PLC | dividend payment date |
| Grainger PLC | dividend payment date |
| GSK PLC | dividend payment date |
| Hilton Food Group PLC | dividend payment date |
| Keller Group PLC | dividend payment date |
| Marshalls PLC | dividend payment date |
| Pacific Assets Trust PLC | dividend payment date |
| Scottish Mortgage Investment Trust PLC | dividend payment date |
| Securities Trust of Scotland PLC | dividend payment date |
| Shaftesbury PLC | dividend payment date |
| Titon Holdings PLC | dividend payment date |
| Vertu Motors PLC | dividend payment date |
| Whitbread PLC | dividend payment date |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
17 Jun 2022 09:17
Shaftesbury investor hits out at "expensive" Capco tie-up
(Alliance News) - A Shaftesbury PLC shareholders on Thursday hit out at the rationale and finances of the decision to merge with Capital & Counties Properties PLC.
Read more16 Jun 2022 12:16
LONDON MARKET MIDDAY: Bank of England hikes key interest rate to 1.25%
(Alliance News) - The pound remained lower against the dollar and equities also were down on the day at midday on Thursday, after the Bank of England decided to raise UK interest rates by a quarter of a percentage point.
Read more16 Jun 2022 11:11
London property merger to create $6 bln West End powerhouse
June 16 (Reuters) - Two of London's biggest property companies agreed to merge on Thursday to create a 5 billion pound ($6 billion) estate with sites in tourist hotspots including Covent Garden, Carnaby Street and Soho that are battling to recover from the pandemic.
Read more16 Jun 2022 08:58
TOP NEWS: Cap & Counties and Shaftesbury agree terms for merger
(Alliance News) - Capital & Counties Properties PLC and Shaftesbury PLC on Thursday said they have agreed the final terms of their all-share merger to create a central London-focused property investor with a combined portfolio value of GBP5.0 billion.
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