Land Securities was lifted by 4% to 1,161p, courtesy of warm words from Merrill Lynch.
The company was added to the investment bank’s list of “most preferred” property stocks. “It is now trading at a 22% discount to net asset value versus the UK majors which are at a discount of 15%, the bank said.
Elsewhere, housebuilders advanced on hope of a rate cut. Taylor Wimpey gained 2.25p to 16p, Barratt Developments rose 1.75p to 87.25p, while Persimmon climbed 9.6% to 351.75p.
Property company Grainger, which last week saw its shares fall to their lowest level since 1996, rose 17.5p to 99.5p.
05/11/08 Times 51
Daily Telegraph B6
Independent 54
