Shares in London look set to close the last day's trading before Christmas with another loss as efforts to assuage market fears in the US have the opposite effect.
IC TIP UPDATES:
Property investment specialist Palace Capital (PCA) has announced the acquisition of a mixed leisure, retail and office building at One Derby Square in Liverpool for £13.975m. The net initial yield on the property is 6.75 per cent. Buy.
Scisys (SSY) has won a €3m order from Thales for security-related elements of the EU funded Galileo Ground segment project. Buy.
Quantum dot specialist Nanoco (NANO) has completed the third of three milestones agreed with a US partner which has triggered a £1.6m payment, taking the total milestone payments from this partner to £4.2m. Buy.
Tritax Big Box Reit (BBOX) has announced the signing of forward funding agreements for a fulfilment centre in Durham with a ‘financial robust world leading retailer’. The maximum commitment on the deal is £147.3m, which reflects an initial net yield of 5.25 per cent. Buy.
KEY STORIES:
UK Commercial Property Reit (UKCM) has spent £85.4m on the acquisition of a portfolio of distribution warehouses across the Midlands from Clipstone Logistics Reit on a net initial yield of 5.5 per cent.
Hansteen Holdings (HSTN) has completed two sales transactions worth an aggregate £86.5m. The biggest deal is the sale of 22 properties for £67.9m to Stenprop while a further four properties have been sold in separate deals worth £18.6m in total. The sales represent an 8.3 per cent uplift on the most recent portfolio valuations.
Air services business Gama Aviation (GMAA) has won two substantial new contracts. Firstly it has won a renewal of a deal for maintenance and service of eight government aircraft for 11 years from 1 April 2019 which will be worth between £66m and £88m over the term of the contract. Secondly it has signed a five year deal worth £27.5m to support four special mission aircraft.
