Shares in AIM-listed estate agency Hunters Property leapt by a fifth to a 10-month high on news that the company is a takeover target.
Property Franchise Group, another AIM-listed company which owns several estate agency brands, said today it is in “early contemplation” of an offer for Hunters.
The company has until 5pm on 1 January to make an offer or walk away. Shares in Hunters closed at 70p, up by 19.7%. Property Franchise Group’s shares were down by almost 4% at 173.5p, making it one of the steepest real estate fallers of the day.
Taylor Wimpey made the list of the biggest fallers on the FTSE 100, while doubts remain over the housing market’s recovery next year.
The housebuilder ended 3.5% down on 159.95p. Meanwhile, Berkeley Group was down by 1.83% after reporting a 16.6% profit fall in its results for the six months ended 31 October.
The FTSE 100 finished the day up by almost 1% at 6,550 points. The FTSE 250 was up by 0.25% at 20,182.
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