Capital & Counties saw its share price drop by 9% to 128p, its lowest closing price for a decade, after reporting its losses had grown to £440.7m over the first half of 2020.
The poor financial results followed a small revolt by shareholders earlier this week over the firm’s plans for the second stage of its acquisition of shares in neighbouring West End landlord Shaftesbury from investor Samuel Tak Lee.
Votes against spending £88.2m on 16.3m shares, equating to 5.31% of Shaftesbury’s stock, stood at 27.8%.
Shaftesbury also saw its share price fall back below Capco’s buy-in price of 540p per share today. Its stock declined by 7.78% to 527.5p.
Capco and Shaftesbury were the two sharpest fallers in the FTSE 250 during trading.
Other losers on the stock market included Landsec, British Land and Whitbread, which all found themselves among the FTSE 100s biggest fallers.
Landsec’s stock fell by 2.02% to 573.8p, Whitbread’s by 2.06% to 2,520p and British Land’s by 1.48% to 373.7p.
The FTSE 100 and FTSE 250 ended the day up by about 2% to 6,280 points and 0.5% to 18,089 respectively.
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