FTSE 100 rises after Segro rejects £12.6bn Prologis takeover bid

The FTSE 100 closed higher on Wednesday, up 0.3% to 10,461.63, as UK property shares rallied following Segro's rejection of a £12.6 billion takeover proposal from US logistics firm Prologis. Segro jumped about 17% after declaring the offer “far below” its valuation. The rejection lifted other property‑related stocks, including Tritax Big Box REIT, British Land, Land Securities and housebuilders Barratt, Redrow and Persimmon, which all posted gains.

The broader market was buoyed by a fall in UK gilt yields and easing Middle‑East tensions that pushed oil and gold prices lower. The pound slipped modestly against the dollar, while investors continued to weigh the implications of US‑Iran negotiations and expectations around UK monetary policy. European peers saw mixed moves, with France’s CAC 40 up 0.5% and Germany’s DAX down 0.6%.