Morning Eyecatchers: Property sales by Land Secs and Hammerson

RBS to sell its retail banking assets in the United Arab Emirates, WS Atkins and Ashtead prepare for tighter government spending and loss of car park revenue will affect Stagecoach profit by around £8 million.

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by Phil Cozens on Jun 17, 2010 at 07:48

* Land Securities is selling one of its largest London development projects Park House to Qatari property company Barwa Real Estate for £250 million as overseas demand for UK real estate spirals

* Hammerson sells French property to Allianz for €176 million; Hammerson and Allianz have set up a 75:25 joint venture to hold the Expace Saint Quentin shopping centre near Paris

* WS Atkins full-year pre-tax profit £5 million vs year ago £100.2 million; total dividend 27.5p, up 5.8%; uncertainty of the impact of UK public spending cuts continues; prepared for a period of tighter government spending

* RBS agrees to sell its retail banking assets in the United Arab Emirates to Abu Dhabi Commercial Bank PJSC

* Standard Chartered signs strategic partnership with AgBank

* Canada court rejects AstraZeneca bid to block generic Nexium

* Balfour Beatty wins US commuter rail project

* Collins Stewart acquires Andersen Charnley for initial consideration of £5 million

* Mulberry pre-tax profit £5.1 million vs £4.2 million; like-for-like sales in full price shops; concessions up by 44% for first 10 weeks; sales will grow more rapidly during the next financial year

* Ashtead Group full-year underlying profit £5 million vs £87.4 million; plans £225 million capital expenditure spend vs £6.3 million; UK would lag the US in terms of a recovery

* Consort Medical profit down 6%; confident on outlook

* Grainger eyes Moorfield joint venture