Hammerson’s shares jumped by 15% on the London Stock Exchange today, at the end of a week in which the company revealed plans to reopen its shopping centres from 15 June.
The REIT ended the day at 137p per share, having opened at 119.4p. Hammerson announced earlier this week that 85% of its portfolio is to restart trading by the middle of the month.
Other retail-focused REITs have enjoyed a similar market boost this week. Intu gained 53.2% in trading on Tuesday after disclosing a better than expected forecast for rent collection. Today the company closed up 3.46% at 9.26p.
Flexible office space provider Workspace Group saw its share price dip 2.47% today to 770p. The company posted in its financial results today that the rent reductions it has given to customers in the first quarter amounted to about £15m, and said the current year would “undoubtedly see a subdued operational performance and a reduction in rental income”.
The FTSE 100 ended trading up 2.25% at 6,484. The FTSE 250 closed at 18,229.32, up 2.26%.
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