Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Retail park operator Hammerson [LON:HMN] has been forced to publish an update this morning after the Sunday Times reported the company had agreed to sell its retail parks to a Canadian private equity house. The note published to the market identifies the prospective buyer but adds that it is only in discussions around a sale and that the deal is far from being concluded. More details will follow if progress is made, but the media report highlights that with retail parks being more resilient through COVID than shopping centres, Hammerson has seen far higher rent collections for this channel.
AIM listed ITM Power [LON:ITM] has issued an update this morning, advising that a planning application has been made for a 20MW electrolyser to be sited at a Scottish wind farm. That will be the UK’s largest electrolyser deployment to date and will also ensure that power generated by wind overnight can be stored efficiently as hydrogen.
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88 Energy [LON:88E] have been on our agenda recently with a series of operational updates, which have in turn received a mixed response from investors. However this morning’s news, confirming the presence of oil in sidewall cores, will be closely followed to see if this is sufficient to reverse some of last week’s losses.
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