Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Tritax Big Box customer demand improving after sluggish 2023
Tritax Big Box LON:BBOX has a trading statement out this morning, noting an encouraging pickup in activity with customers who had stalled in 2023 now moving ahead. Vacancy rates are slightly up on last year at 5.3% vs 5.1%, price yields are noted as stable and the current average cost of debt is just 3.1%. The combination with UK Commercial Property REIT has also been concluded.
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#2. Easing macro woes boost Land Securities outlook
Land Securities LON:LAND has issued full year numbers this morning with the pre-tax loss falling to £341m from £622m and shareholders being set to receive a slightly elevated 39.6p dividend. With letting momentum building, the company is optimistic that with the support of easing macroeconomic woes, wider investor interest in real estate is returning and this will fuel further growth.
#3. Unilever share buy back to commence
Unilever LON:ULVR has confirmed that it will commence share buy back operations from today. This will be the first tranche as announced in full year results back in February for an aggregate market value of up to €650 million.
