LondonMetric buys M&S logistics warehouse, GPE hails strong end to year
By Josh White
Date: Thursday 10 Apr 2025
(Sharecast News) - London open
The FTSE 100 is expected to open 402 points higher on Thursday, having closed down 2.92% on Wednesday at 7,679.48.
Stocks to watch
LondonMetric Property said it had bought a long-let Marks & Spencer logistics warehouse for £74m, reflecting a net interest yield of 5.65%. The 390,000 sq ft regional logistics warehouse is pre-let to M&S on a 20-year lease with five yearly upward only rent reviews linked to CPI, the company said on Thursday.
Great Portland has hailed a strong end to its financial year, with leases 9.9% ahead of estimated rental value in the fourth quarter. The company said that good progress across its development pipeline and strong demand means it is "well positioned to take full advantage of favourable leasing markets".
Anglo American said in an update on Thursday that it was working with Peabody Energy to meet the remaining "customary conditions" for completing the sale of its Australian steelmaking coal assets, as announced last November. The FTSE 100 company also provided an update on the temporary suspension of operations at the Moranbah North mine, following a minor underground ignition incident on 31 March. It said conditions at the mine had since stabilized, adding that it was collaborating with safety authorities to enable a safe and timely resumption of mining activities.
Newspaper round-up
Royal Mail has unveiled a solar-powered "postbox of the future" with a built-in barcode reader and a hatch to accept parcels larger than letterbox size. In the "biggest change to postbox design since their introduction more than 175 years ago", the hi-tech pillar box looks as if it is wearing a jaunty beret. The black, chequered lid is in fact solar panels that power the scanner. The postbox's extra-large opening hatch offers a new way for the postal service to cash in on a roaring parcel trade. While letter volumes are in steep decline, Britain is in the grip of a secondhand selling boom as consumers use sites such as Vinted to make extra cash. - Guardian
Gordon Brown has called for an "economic coalition of the willing" to respond to Donald Trump's tariffs with coordinated economic policies, including a reduction of interest rates. The former prime minister also said it was a moment for the UK to go even further in renewing ties with the EU, suggesting it should mean "collaboration that is even more extensive than removing post-Brexit trade barriers". - Guardian
Military chiefs at Nato have been warned of global internet blackouts following a string of suspected Russian attacks on subsea cables. Telecoms companies including Vodafone, O2 owner Telefonica and Orange have written to UK, EU and Nato officials warning that a rise in sabotage incidents was putting critical services at risk. - Telegraph
US streaming giants should pay a "Netflix tax" to help pay for more high-quality British TV shows, MPs have urged. In a report published on Thursday, the culture, media and sport committee called on American media giants such as Netflix, Disney, Amazon and Apple to "put their money where their mouth is" by paying a 5pc levy on their UK revenues. The takings would be channelled into a new cultural fund, administered by the British Film Institute (BFI), to support high-end British dramas. - Telegraph
The Bank of England has warned that traders using similar artificial intelligence models to make key decisions risk escalating the impact of market shocks on the financial system. A report by the Bank's financial policy committee said that while AI could be used to increase market efficiency there were also risks as traders could inadvertently "take actions collectively in such a way that reduces stability". - The Times
US close
Major indices skyrocketed on Wednesday as Donald Trump announced a 90-day pause to a number of his so-called "reciprocal" tariffs.
At the close, the Dow Jones Industrial Average was up 7.87% at 40,608.45, while the S&P 500 advanced 9.52% to 5,456.90 and the Nasdaq Composite saw out the session 12.16% firmer at 17,124.97.
The Dow closed a whopping 2,962.86 points higher on Wednesday, clawing back some of the heavy losses recorded over the previous four sessions.
Major indices soared after Trump announced that he had authorised a 90-day "pause" and a "substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately".
However, the president also stated he had again raised the tariff rate on China, this time to 125%.
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