Landsec’s share price has jumped after offering an upbeat outlook for London’s office market, as the FTSE’s rally builds on yesterday’s stock market surge from Pfizer’s vaccine breakthrough.
Despite sinking to an £835m loss at the half-year mark, Landsec’s stocks enjoyed a 4% boost to end the day at 669.2p.
Chief executive Mark Allan pointed to “ample opportunity” for value creation in the years ahead, particularly in central London offices.
However, logistics and industrial-focused REITs endured a tougher trading session. SEGRO was the worst REIT performer in the FTSE 100, after its shares fell by 3.7% to 871.2p.
LondonMetric Property was among the biggest REIT fallers on the FTSE 250, down by 6% to 223.6p, while stocks at Tritax Big Box REIT fell by 2.2% to 161.7p.
The FTSE 100 finished the session up 1.8% at 6,296.85 points, while the FTSE 250 was up 0.9% at 19,028.34.
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