LONDON offices giant British Land and MediaCity business Land Securities were hit by heavy selling today as nervous investors cut their exposure to property.
Shares in the FTSE 100-listed landlords fell as much as 5% after wider fears of an economic slowdown were exacerbated by Bank of America downgrading its price targets and recommendations on the pair.
British Land, whose London campuses include Paddington Central and Broadgate, fell 26.5p to 480.7p and Land Securities, which has Piccadilly Lights as well as a 75% stake in Salford's MediaCity in its portfolio, dropped 32.4p to 704.2p.
This story is from the June 29, 2022 edition of Evening Standard.
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This story is from the June 29, 2022 edition of Evening Standard.
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