23 December 2020 | 07:34am
StockMarketWire.com - Commercial property company British Land said it had exchanged contracts on the sale of its 75% stake in a portfolio of three buildings in the West End to Allianz Real Estate for £401 million.
The transaction represented a blended net initial yield of 4.32%, a premium to September book value and was expected to complete in January, the company said.
This transaction, on behalf of several Allianz group companies, demonstrated our commitment to recycle capital out of assets not aligned to our core focus on mixed use London campuses, providing greater flexibility to invest in developments. it added.
British Land sells 75% stake in West End buildings for £401 million
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From Reuters:
Cryptocurrency XRP tumbled 24% on Wednesday after the U.S. Securities and Exchange Commission (SEC) charged associated blockchain firm Ripple with conducting a $1.3 billion unregistered securities offering.
XRP, the third-biggest cryptocurrency by market value, dropped to as low as $0.33, its weakest in a month, after the announcement from the SEC, which also saw two executives of San Francisco-based firm charged for personal gains they received from the offering.
Ripple has rejected the charges, saying XRP is a currency and does not need to be registered as an investment contract.
Financial regulators around the globe are still grappling with how to regulate Bitcoin, XRP and rival cryptocurrencies. Markets are watching closely for regulatory developments that could determine whether cryptocurrencies make the leap from a niche to a mainstream asset.
European Markets Close Higher
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets closed higher on Wednesday amid rising optimism about a post-Brexit trade agreement.
News about France re-opening its borders with Britain, allowing travelers and truck drivers who test negative for Covid-19, contributed as well to the somewhat positive mood in the markets.
However, concerns about rising coronavirus cases in the continent and worries about economic growth in the wake of tighter restrictions limited markets gains.
The pan European Stoxx 600 climbed 1.08%. The U.K. s FTSE 100 gained 0.66%, Germany s DAX firmed up 1.26% and France s CAC 40 advanced 1.11%, while Switzerland s SMI edged up 0.08%.
Among other markets in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey ended with sharp to moderate gains.
23 December 2020 | 11:59am
StockMarketWire.com - The UK s benchmark FTSE 100 index fell 0.24% to 6,437 just before midday with markets on edge as outgoing US president Donald Trump demanded changes to a crucial US stimulus package and the clock continued to run down on last-ditch Brexit talks.
But the more domestically focused FTSE 250 index fared better, gaining 0.46% to 20,042.32, as optimism slowly grew that a Brexit deal could be reached.
In corporate news, oil company Cairn Energy jumped 20.8% to 200.4p after it won a long-running international arbitration case against the Indian government and was awarded $1.2 billion in damages plus interest and costs.
Cairn had been fighting against a large Indian capital gains tax bill since 2015.
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