Capital & Counties saw its share price lifted today, after confirming that it has paid £436m to take a stake of 26.3% in fellow West End REIT Shaftesbury.
Capco acquired the stake after Hong Kong-based billionaire Samuel Tak Lee launched an auction process to sell his holding in Shaftesbury.
Capco’s shares finished the day at 170.3p, a rise of 4.16%. Shaftesbury’s shares stood at 633p, up by a little less than 1%.
Other risers during the session included Hammerson, which saw the second-sharpest increase in the FTSE 350. Shares in the shopping centre owner, which has outlined plans for reopening its properties, closed up 12.07% at 82.48p, their highest since late March.
Also on the up were fellow retail owners intu Properties, rising 10.3% to 5.62p, and NewRiver REIT, up 8.43% at 57.9p.
The FTSE 100 finished the day at 6,166, up 1.48%, while the FTSE 250 rose 1.38% to 17,277.
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