Following a week of share price falls after news broke of an emergency fundraising, Hammerson rose once more in trading today.
The REIT’s stock closed lower each day last week, losing more than a quarter of its value during the five days. The sharpest fall came after the company revealed details of a rights issue to raise almost £552m, saying there was a “severe but plausible” chance of the company going bust without the fresh money.
Today, the company’s shares gained 9.2% to close at 51.34p – one of the sharpest rises seen in the FTSE 250 index – although they remain close to a multi-year low.
The biggest REIT fall was suffered by Empiric Student Property, which ended the day down by 2.8% at 62.7p. Schroders’ European and UK REITs also traded down, by 2.8% and 2.57% respectively.
The FTSE 100 nudged up 0.3% to 6,050. The FTSE 250 was up by 0.58% at 17,724.
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