Market wrap: intu rallies after securing RCF waivers

Intu’s shares climbed 9% to 6.1p by close of trading today, after the company managed to secure some breathing room from lenders until late June. The shopping centre landlord, which disclosed it had extended waivers for potential covenant breaches relating to its revolving credit facility, was one of the biggest risers on the London Stock Exchange today. The REIT also appointed a turnaround specialist to help solve its balance sheet problems. Fellow shopping centre landlord Hammerson, on the other hand, fell by 7.9% to close at 65p. Another REIT posting a notable decrease was BMO Commercial Property Trust, closing down 12.8% at 66.5p. The FTSE 100 closed down 2.3% at 5,763, while the FTSE 250 lost 1.9% at 16,148. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette