The ride could only continue for so long. Having risen for four trading days on the trot, Hammerson’s stock slipped back today in the steepest fall across the FTSE 350 index.
The REIT’s shares plunged by 9.6% to 37.69p, wiping out some – but by no means all – of the gains made over the days since the company mapped out some of its turnaround plans.
That still leaves the stock significantly higher than the 23p at which it exited a consolidation of various classes of share after a recapitalisation last September.
Empiric Student Property fell by 1.7% to 76.6p – still close to a year high – after full-year results that showed a £24m loss and “significantly slower” bookings for the upcoming academic year.
The FTSE 100 was down 0.6% at 6,762, while the FTSE 250 dropped almost 1% to 21,558.
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