Has anybody any thoughts on Derwent London?.Has dropped about 37% (10) since May and by the look of things might be going back upto 23.
Yesterday a jump of 86p and today 46p.

Long term chart looks very positive.

Stock coming off a double bottom and breaking out from a downtrend channel.

Moving up we have fresh air until resistance at just under 900p around 890p.

Worth getting on for the ride.

BROKER NEWS UPDATE

MoneyAM

Drax was today moved back to reduce from add at Evolution, with a target price of 485p.

Derwent London upgraded to buy from hold at KBC Peel Hunt following analysts presentation.

StockMarketWire.com
Derwent London, in collaboration with Crossrail, has announced that Westminster City Council has passed a resolution to grant permission for a mixed-use scheme at 1 Oxford Street in London's West End.

The scheme, with a total net lettable area of 275,000 sq ft (25,500m2), will be built above the Tottenham Court Road Crossrail and London Underground Station. It is Derwent London's intention to exercise its option to reacquire the site which was compulsorily purchased by Crossrail in 2009, following the completion of the upgrade works, expected to be in 2017.

Working with architects Allford Hall Monaghan Morris, the plans are for two striking buildings overlooking an attractive new public square that links Charing Cross Road to Soho Square. The larger building stands on the corner of Oxford Street and Charing Cross Road and incorporates the station entrance, along with 37,000 sq ft (3,400m2) of retail space and 177,000 sq ft (16,400m2) of offices over eight floors above.

Complementing this, to the south is a self-contained 34,000 sq ft (3,200m2) 350-seat theatre, with 27,000 sq ft (2,500m2) of offices above. The theatre has been designed in collaboration with Nimax Theatres, a leading London operator, and offers a highly versatile performance space.

John Burns, Chief Executive of Derwent London, commented: "We are delighted that Westminster City Council has approved this important scheme. It will help in the much needed revitalisation of the eastern end of Oxford Street which is essential for the long-term growth of the West End. The Derwent London development will provide high quality office and retail space, together with a new theatre and public realm which promise to become a significant landmark. With its very close proximity to the interchange at Tottenham Court Road, this is another prominent development that will benefit from the arrival of Crossrail."

Ex-divi 16th May 2012, 3.8p + 18.1p