Land Securities kicked off a share buyback programme today with the purchase of £5m of shares.

The company received shareholder approval to undertake the buyback at its annual meeting yesterday, but did not confirm how many of its own shares it would be purchasing.

Land Securities bought 300,000 shares at 1720.5p a share.

In a statement to the Stock Exchange, company secretary Peter Dudgeon said: ‘Further purchases may be made from time to time, subject to market conditions and the company's capital requirements.