Investor News in Brief

Last year was the worst on record for the FTSE property sector, according to JP Morgan. But so far this year, it has been the top performer, recording a 4.9 per cent rise in January. Investors have snapped up shares in real estate investment trusts (Reits), attracted by discounts to net asset value of around 30 per cent. Activist funds are also moving in, with Laxey Partners about to float its £500m Terra Catalyst Fund, which will build stakes in underperforming property companies and funds. Lehman Brothers (NYSE:LEH) is now predicting favourable dividend yields for Reits in 2008. For example, Land Securities' yield could reach 4.5 per cent, and it has its own £500m war chest to exploit low prices. So in spite of weak demand for commercial property, Land Securities remains a buy at 1560p.

Earlier this week, pub operator Mitchells & Butlers looked decidedly the worse for wear after one hedging transaction too many. It had to close derivative positions taken out protect a now-abandoned property deal with Robert Tchenguiz, incurring a £274m loss. But the owber of the All Bar One and O'Neill's chains has since received expressions of interest in a takeover bid. This news helped its shares to rise by 18 per cent, offering some respite to investors who have seen the price fall from from a high of 885p last May. With the shares now at 472p, shareholders should hold on for further news.

Asian-focused Standard Chartered was one of the few banks to come through 2007 relatively unscathed by the credit crunch. But this week it had to announce that it was supporting its Whistlejacket Capital structured investment vehicle (SIV) by buying up its short-term debt (or "commercial paper"). That could leave Standard with a commitment equal to £3.6bn. But its shares still trade on about 16 times 2007's expected earnings - a huge premium to the rest of the UK banking sector. So if Asian markets suffer, and further doubts emerge over SIVs, the shares have further to fall. Sell at 1,598p.

All share recommendations by Investors Chronicle.See this week's issue for an exclusive article by legendary fund manager and "Zulu Principle" author Jim Slater explaining why he's buying into Brazil's booming economy, and recommending the best ways to gain exposure. On sale February 1-7.