LONDON (ShareCast) - Shares in real estate stocks are higher after FTSE 100-listed Hammerson announced that it had exchanged contracts with Pearl Assurance over the sale of their long leasehold interest in Moorhouse for £230m.

“This transaction demonstrates that there is continuing interest from investors for high quality assets in the City of London,” Hammerson said.

“It reduces Hammerson's exposure to the City office market and is in line with our policy of recycling capital from mature assets into new opportunities.”

Fellow large cap real estate stocks British Land, Land Securities and Liberty International also advance.

Food retailers have been hit by a note from Citigroup lowering its target price on the supermarket giant Wm Morrison. Peers Tesco and Sainsbury’s are also lower.

Top performing sectors so far today
Industrial Metals 4,573.30 +5.58%
Mining 19,245.50 +4.75%
Chemicals 4,338.20 +2.31%
Real Estate 3,156.40 +1.89%
Oil Equipment Services & Distribution 15,822.40 +1.84%

Bottom performing sectors so far today
Automobiles & Parts 3,459.80 -2.23%
Pharmaceuticals & Biotechnology 8,023.00 -1.66%
Food & Drug Retailers 4,283.90 -1.13%
Industrial Transportation 2,290.60 -0.87%
Food Producers & Processors 4,119.40 -0.77%

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