British Land Company PLC

The FTSE 100 closed higher on Wednesday, lifted by a surge in property stocks after Segro rejected a £12.6 billion takeover proposal from US logistics giant Prologis. Segro shares jumped 17%, sparking gains across the sector, with Tritax Big Box REIT up 6.4% and British Land and Land Securities both up 4.1%. Housebuilders also advanced, with Barratt Redrow and Persimmon rising 6.6% and 5.8% respectively, supported by a further fall in UK bond yields and Berkeley Group's full-year profit slightly ahead of guidance. The gains offset a slump in mining and energy stocks as gold fell to $4,014.40 an ounce and Brent crude slipped below $75 a barrel for the first time since the start of the Middle East war, dragging BP down 3.7% and Shell down 1.9%. The FTSE 100 closed up 32.78 points, or 0.3%, at 10,461.63, while the FTSE 250 added 0.8% and the AIM All-Share fell 0.7%.