Capital & Counties posted a 1.5% fall in its share price today, after the landlord revealed a 27% full-year decline in the value of its Covent Garden estate.
In its latest trading update, Capco said the valuation for the estate fell to £1.8bn at the end of 2020 on a like-for-like basis, from £2.6bn at the same point in the previous year.
The landlord’s share price stood at 133.8p at market close.
Other notable real estate fallers across the stock exchange included Capital & Regional, which dropped by 8.9% to 56.1p; GCP Student Living, down by 2.5% at 143p; and Henry Boot, which declined by 4.6% to 270p.
Hotel stocks in particular made significant gains today, with Holiday Inn parent InterContinental Hotels Group and Premier Inn owner Whitbread outshining the rest of their FTSE 100 cohort.
InterContinental’s shares ended the session up by 5.8% at 4,876p, while Whitbread was similarly up by 5.8% at 3,016p.
The FTSE 100 finished the day at 6,516 points, up by 0.8%. The FTSE 250 was up by 1.5% to 20,690.
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