Market wrap: IWG rallies on ‘hybrid working’ outlook

Serviced offices provider IWG’s stock has climbed today, after the company offered an upbeat outlook for the flexible and co-working markets. The firm, which is behind brands including Regus, posted a near-10% decline in revenue. However, it outlined that “hybrid working” will “gain momentum and requires flexible workspace solutions to deliver this successfully”. Elsewhere, Hammerson posted the biggest share price rise among the REITs, up by 7.5% at 17.3p. Rita-Rose Gagné, who has newly joined as its chief executive, was given nearly 5.7m shares priced at 17.7p per share, equalling a value of just over £1m. James Lenton, its chief financial officer, was awarded around 1.8m shares worth about £322,400. On the other end of the scale, shares at Capital & Regional slid the furthest among the listed real estate companies, down by 5% at 36.1p. The FTSE 100 ended trading up by 2.3% at 5,786.77 points, while the FTSE 250 was up by 1.8% at 17,491. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette