Next topped the list of today’s top risers in the FTSE 100 Index, after the retailer reported that it expects its rents to fall by 50% on average this year across 60 of its stores.
The company saw its stock boosted by 4.15% to 6,426p. The chain expects to renew 60 store leases, extending them by an average of 3.5 years in exchange for the rent reduction, saving £9.9m per annum.
Meanwhile, fellow FTSE 100 top riser British Land also enjoyed a lift on the market after Brookfield increased its stake in the landlord to 9.2% from 7.3%. Shares rose 2.04% to 365.8p.
The FTSE 100 ended the day down 0.47% on 6,049.92. The FTSE 250 closed 0.32% down on 17,737.72.
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