Hammerson hit after selling Paris building for below book value

Property shares are under pressure, with Hammerson leading the way lower after it sold a Parisian office block for less than book value. The company sold a seven storey block at 148 Rue de l'Universite for €84.5m (£75m), compared to a book value of €97.8m. The property was 44% vacant on disposal. Hammerson shares are down 16.4p at 407.6p, while Land Securities is 21.5p lower at 663.5p and British Land has fallen 14p to 466p.