Stocks fell further on Tuesday as news broke of the coronavirus spreading to fresh European countries including Switzerland and Croatia.
The FTSE 100 closed at 7,017, down 139 points, while the FTSE 250 closed at 20,715, a drop of 402 points.
Shares in Hammerson, which have lost a quarter of their value so far this year, rose by 2.4% to 227.5p, valuing the company at £1.7bn. The landlord announced 2019 results today that showed a 16% fall in the value of its portfolio and a loss of £781m. The company will cut its 2020 dividend.
Chief executive David Atkins told EG that 2020 will be “another challenging year, and a year of transition” for the business as it looks to reduce its debt and repurpose assets.
Derwent London, whose results today showed a rising portfolio valuation and increasing returns, nudged up almost 1% to 4,262p, giving the company a £4.7bn market cap.
In its results statement, the company noted that its share price had “increased sharply” during the second half of last year, meaning that it is now trading at a “modest premium” to NAV.
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