Latest news with #Helical
The Independent
11-04-2025
- Business
- The Independent
FTSE lifts again in calmer session for global markets
Stocks in London finished higher after a steadier session following recent turbulence amid the fallout of US tariff plans. It represented the second consecutive rise and helped shore up the London markets after a dramatic start to the week. Nevertheless, travel stocks, such as British Airways owner IAG, had a weak session due to worries that a potential global recession will cause people to cut back leisure spending. The FTSE 100 finished up by 0.64%, or 50.93 points, to close at 7,964.18. It was only around 1% lower for the week. Elsewhere in Europe, the other main markets dipped slightly as many traders chose to sell following a particularly sharp improvement – the biggest daily gain for three years – in Thursday's session. The Cac 40 ended 0.3% lower for the day and the Dax index was down 0.94%. In the US, the Dow Jones and S&P 500 both opened in positive territory, but seesawed during a nervy first few hours of trading. Axel Rudolph, senior technical analyst at IG, said: 'Stock indices suffered from investor fatigue and saw their lowest volatility day of the week. 'After a turbulent week, the oil price stabilised as well and was little changed on the day. ' Bar gold, investors aren't flocking to traditional safe haven assets such as the US dollar or Treasuries as they no longer trust the US government.' Meanwhile, in currency the pound was up 0.6% at 1.304 US dollars but was down 0.3% at 1.154 euros when London's markets closed. In company news, BP was among the fallers after the energy giant lowered its outlook for gas production in the first quarter of 2025 and said debts are set to jump. Shares in the oil major were down 2.9% at 331.7p – their lowest level since 2022 – after it said production will be lower in gas and low-carbon energy for the first three months of the financial year, compared with the previous quarter. Toy firm Character Group was firmly in the read after it withdrew its guidance for the financial year in light of the President's tariff plans. The business, which makes Peppa Pig toys under licence, said its ability to accurately forecast its sales to the US – which represented around 20% of revenues for the past year – has been 'considerably obscured' by the trade tariffs. Shares in the business finished down 6.2% at 242p on Friday. London real estate firm Helical rose higher during the session after it announced the £333 million forward sale of its flagship office project at 100 New Bridge Street in the City. Shares were up 6.9% at 186p after Helical reported the deal with an undisclosed S&P 500-listed company. The price of oil was broadly steady during the session, as traders bought into the energy stock despite lingering concerns over economic growth. A barrel of Brent crude oil was up by 0.44% to 63.61 dollars (£48.72) as markets were closing in London. The biggest risers on the FTSE 100 were Fresnillo, up 68p to 991p, Endeavour Mining, up 121p to 2,004p, Tesco, up 13.1p to 327.7p, ConvaTec, up 9.4p to 247.6p, and Glencore, up 8.65p to 253.65p. The biggest fallers on the FTSE 100 were St James's Place, down 37p to 823.4p, BP, down 9.9p to 331.7p, Pershing Square, down 70p to 3,332p, IAG, down 4.9p to 240.8p, and Experian, down 64p to 3,354p.
Yahoo
06-03-2025
- Business
- Yahoo
Plans approved for new development above Southwark Tube station
Plans for a new development above Southwark Tube station have been approved. The joint venture between Places for London, Transport for London's property company, and central London developer Helical, will see 429 purpose-built student accommodation units and 44 affordable homes built on the site. The development will also include a new Bauhaus-inspired block, which will house the student accommodation. The project, designed by architects AHMM, will also include new retail and community spaces, including a shared community garden. The development will aim to deliver the highest standards for sustainability and is targeting a 4.5-star Home Quality Mark for the affordable housing provision. Scott Anderson, head of property development at Places for London, said: "It's wonderful news to have received approval for our over station development above Southwark station. "Designed to preserve the architectural heritage of the station and aiming for the highest of sustainability standards, our plans with Helical will bring new homes and provide real benefits for London. "We're proud to be providing improvements to the local community through new high-quality and affordable homes and student accommodation which will help to alleviate pressure on the housing market in the area." The development will also include improvements to the public realm, with an increase in greenery and active frontages on the Cut and Isabella Street. Future residents will benefit from easy and fast public transport connections across the capital, with London Bridge and Waterloo within walking distance. Matthew Bonning Snook, CEO of Helical plc, added: "This planning approval is a further positive step forward in our JV with Places for London. "Whilst the site benefitted from planning permission for a 220,000 sq ft office scheme we have brought forward a more valuable proposition at this important site which will deliver much in demand purpose built student accommodation and affordable housing along with high quality public realm and significant benefits to the local community." The development is one of three initial sites that Places for London and Helical are delivering as part of the Platinum Portfolio joint venture. A 140,000 sq ft office building at 10 King William Street is underway, and is due for completion in December 2026 in a supply constrained market in the heart of the City of London. Another office development of 235,000 sq ft at Paddington is progressing and due to start early next year. The proposals form part of Places for London's wider housing programme, which will provide thousands of homes across the capital. Work has started on Places for London sites across London that will deliver 4,300 homes, and more than 1,300 homes have been completed, of which 54 per cent are affordable homes. Cllr Helen Dennis, cabinet member for new homes and sustainable development at Southwark Council, said: "We want decent homes for everyone in Southwark and I'm delighted this project to provide 44 much-needed council homes has the green light to move forward. "I'm particularly pleased that we reached a creative solution, using our planning policies to turn a negative situation into a positive at Styles House. "Even more local residents will now benefit from this deal, with 44 new council homes in a development that will also enhance the existing estate. "I look forward to seeing building works getting started again here soon, delivering new council homes for those in need."
