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Market wrap: Landsec bounces back on valuation gains

Landsec was one of the top performers in the FTSE 100 today, after posting a leap in earnings and a valuation surplus in its latest half-year update.

Shares in the firm rose by 3.7% to 736.4p. Earlier today the REIT reported a surge in earnings, with chief executive Mark Allan highlighting stronger-than-expected economic recovery and resilience in its office portfolio.

FTSE 100 peer British Land, which is set to update the markets on its half-year performance tomorrow, enjoyed a gain of 3.1% to 533.4p.

Beyond the blue-chip index, Palace Capital was up 3.4% to 255.5p after returning to profit.

Hibernia REIT was the biggest real estate faller, down 4.3% at 109.1p.

The FTSE 100 ended the day 0.3% lower at 7,326. The FTSE 250 closed with a similar decline, at 23,539.

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