Landsec’s stock edged upwards in trading after the group’s new chief executive revealed details of a fresh strategic plan for its business.
Mark Allan said the new strategy – which includes targeting £4bn in disposals, streamlining the development pipeline and eyeing residential expansion – will leave the REIT better placed to grasp new growth opportunities in the wake of the coronavirus pandemic. Landsec’s shares ended the day at 531.9p, a rise of almost 1.3%.
Elsewhere in the FTSE 100 (down 0.6% at 5,884), British Land made it onto the list of the day’s highest risers, gaining 2.1% to close at 364.5p.
In the FTSE 250 (up 0.2% at 17,866), companies to see the day’s sharpest increases included IWG, up almost at 274.6p.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
