Market wrap: Fletcher King jumps on Elliott Bernerd talks
Shares in chartered surveyor Fletcher King saw the biggest real estate rise in London trading on Friday, after the company confirmed that it is in talks with real estate developer Elliott Bernerd about the sale of a stake.
The company said talks are under way with Bernerd about the purchase of new and existing shares that could represent as much as 29.9% of its share capital.
The stock rose by 8.5% to reach 44.5p, its highest in more than two years.
Shares in chartered surveyor Fletcher King saw the biggest real estate rise in London trading on Friday, after the company confirmed that it is in talks with real estate developer Elliott Bernerd about the sale of a stake.
The company said talks are under way with Bernerd about the purchase of new and existing shares that could represent as much as 29.9% of its share capital.
The stock rose by 8.5% to reach 44.5p, its highest in more than two years.
In the FTSE 100, British Land was among the day’s biggest gainers, its shares up by 1.7% at 514.6p.
In the FTSE 250, the most sizeable real estate movement was posted by GCP Student Living, which rose by 3.8% to finish the week at 169.2p.
The FTSE 100 ended the week at 7,123, almost flat on the day, while the FTSE 250 nudged up by 0.6% to 22,746.
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