Capital & Regional’s shares rose to their highest level since last summer today, posting a higher stock rise than any other real estate company.
The group, which will update investors on its full-year 2020 results tomorrow, said today that it has struck a deal with Miami-based Reef to find alternative uses for some of its shopping centres. Those could include “neighbourhood kitchens” for local restaurants, urban farms and last-mile logistics.
Capital & Regional’s shares were up by almost 11% at 81p, their highest since last July.
Two housebuilders were in the leading FTSE 100 risers, as the sector continues to benefit from support confirmed in the government’s Budget last week. Persimmon gained 5.8% to reach 3,074p, a fresh year-plus high. Taylor Wimpey was up by 4.5% at 178.65p, its best in a year.
The FTSE 100 ended trading at 6,719, a rise of 1.3%. The FTSE 250 stood at 21,210, up by 1.2%.
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