Rightmove subsides as analysts say housing market is not quite what it seems
“Near-term discounts are papering over the cracks, in our view, and both cyclical and structural headwinds will resurface sooner rather than later,” the bank said in a note
Company
Rightmove PLC
LON:RMV
Rightmove Group operates in the United Kingdom residential property industry connecting people to properties. Its principal business is the operation of the Rightmove.co.uk website.
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UK enjoys mini-housing boom as July sees £37bn of deals
More property is coming onto the market than a year ago says online estate agent Rightmove
Builders and building materials
UK housing market current boom could soon turn to bust
Estate agents are worried about the economic outlook as the government furlough scheme comes to an end in the autumn
Rightmove sees demand spike as people want to move home after lockdown
Demand for property sales and rentals were up 50% and 20%, respectively, in June and July, the FTSE 100-listed group said
Rightmove appoints former News UK top manager as new chief financial officer
Alison Dolan was chief strategy officer of media company News UK from 2016 until last May
Rightmove knocked down to ‘sell’ as Berenberg warns of risks amid agent backlash
The broker said the risk of a rebellion from estate agents meant its will be "near-impossible" for Rightmove to return to its previous levels of price increases
Rightmove extends agency discounts until September taking a £17-20mln revenue hit
The firm already factored in a £65-75mln impact for discounts in the four months to July
Housing market restart will provide boost but may be short-lived
The pipeline of sales transactions that are in different stages of progress should be able to complete fairly quickly, analysts said, benefiting cash flows for estate agents and housebuilders
Rightmove confident in liquidity position after acceptance on government scheme
The online property portal had a cash balance of £32.1mln at the end of December
Rightmove cancels final dividend amid coronavirus uncertainty
Cancelling the payout will allow the property portal to save £38mln
Rightmove cuts prices by 75% to help struggling estate agents
The property website had previously decided to defer payments
Rightmove drops guidance, allows payment deferrals to certain agents
The initiative is for smaller agents who have been the platform for at least a year
Rightmove ‘sell’ sign removed by UBS
With various reports indicating UK property market trends have improved since the general election, the analysts think this reduces the risk of a continues trend of estate agent losses into the second half
Rightmove hikes dividend as profits boosted by agencies and new homes
The company added that “post-election stability” had led to an “optimistic" start to 2020 for the UK property market
Rightmove upped to ‘neutral’ as JP Morgan predicts “strong transformation” in online classifieds sector
The bank is expecting new growth in the space as established players turn to new business models to succeed
Rightmove appoints former Shazam CEO as new chairman
Andrew Fisher will succeed outgoing chairman Scott Forbes, who will retire at the end of the year after more than 14 years in the role
Rightmove's finance director moves on
Robyn Perriss will end her six-year tenure as finance director at the FTSE 100 group next year
Rightmove a 'sell' for Shore Capital as teeters at "tipping point"
The analysts said estate agents “are likely to prove increasingly resistant to paying more - particularly in view of the highly competitive nature of the residential property market”
Rightmove keeps revenue and profit chugging along despite fall in agency numbers
Average revenue per advertiser (ARPA) grew more strongly than anticipated, up 9.1% year-on-year to £1,077 per month
Archive
Vodafone and Rightmove to dominate on Friday
Fridays can sometimes be quiet affairs in the Square Mile, but there’s a handful of things for investors to feast on this week
Builders and building materials
Blue chip builders boosted as housing market brightens up according to surveyors report
A survey of surveyors showed interest among house buyers rose for the first time in more than two and a half years
Archive
FTSE 100 closes in the red after BoE keeps interest rates on hold
The UK blue-chip index finished down nearly 34 at 7,351, while its mid-cap cousin FTSE 250 lost over 127 points
Archive
Bank of England rates decision to take macro spotlight on ‘Super Thursday’
On the corporate front there will be another big batch of blue-chip updates to digest, notably from oil major Shell and banking giant Lloyds
Rightmove’s market-leading position now priced in, says Deutsche Bank
Rightmove has rallied since the turn of the year, so much so that Deutsche Bank now believes the shares sit around where they should be
Investments and investor services
FTSE 100 closes in positive territory as MPs vote down May's deal again
Footsie closed at 7,279, up nearly 45 points on the day
Rightmove downgraded by UBS on valuation grounds
The investment bank said the market was now “pricing in realistic assumptions” about revenue growth at the property listing website
Rightmove revenues jump 10% as per advertiser earnings top £1,000 per month
The company also said its advertiser numbers had remained near all-time highs as a reduction in estate agencies was offset by more new home developments
FTSE 100 closes down on week but higher on Friday as trader optimism returns
Footsie closed the day 32 points up, or 0.45% at 7,106
Archive
City set for surprisingly busy Friday with WPP, Rightmove and William Hill all due up
Fridays are normally quiet affairs in the City, but not this week…
Investors take bite out of Just Eat as it drops out of FTSE 100
The takeaway marketplace has seen more than £1bn wiped from its market capitalisation over the past year, meaning it is no longer in the 100 biggest firms listed on the LSE
Double boost for Rightmove as Deutsche upgrades to ‘buy’, whilst major rival Emoov is on the ropes
Reports have been circulating that Emoov has had to call in administrators after running out of cash and failing to find a buyer to rescue it
Archive
FTSE 100 closes firmly lower as investors realise US/China trade dispute continues
The UK index of leading shares finished down over 39 points lower at 7,022.
Christmas spirit could be lacking for Royal Mail as ejection from FTSE 100 index beckons once again
Christmas might be Royal Mail’s busiest time of the year but a shock profit warning from its new chief executive Rico Back in October wiped out 20% of the postal firm’s market value, making the group a shoo-in for another demotion
Hardware & electrical equipment
Rightmove back on UBS's 'buy' list
"Growth in hybrid share of listings has slowed, which we think will help reduce pressure on agency commission fees, which have now declined c40% since 2007," UBS said
Investments and investor services
OnTheMarket reports strong growth but still has some way to go to catch market leaders
The agent-backed company has signed more than 11,000 estate and letting agents to its site
Rightmove confident but brokers wary of subdued housing market
The general view seems to be: Good company operating in a sector that is currently under a cloud
FTSE 100 closes higher, boosted by earnings and weaker pound
In London, FTSE 100 added over 38 points to finish at 7,701 - that was up on the week too, marginally - by 0.29%.
Archive
BT investors 'flying blind' as it reports first quarter results without net adds
Jefferies reckons the key focus for BT's quarterly results will be on the business and public sector division following a poor performance last year
Investments and investor services
FTSE 100: Forget Brexit, here’s what we’ll learn from a bumper earnings week
We have a deluge of earnings statements from some of Britain's biggest businesses. Below we discuss the themes likely to emerge from the mid-term reporting season
Rightmove downgraded; UBS recommends cashing in on merger mania
UBS likes the company but not the shares at this price and it does not think the imminent half-year results will change its mind
FTSE 100 closes in positive territory but is down on week as trade tensions continue to blight markets
Benchmarks on Wall Street are trading higher, with the Dow Jones Industrial Average up 116 points
OnTheMarket quickly catching up with multi-billion-pound rivals
The online property portal has seen a surge in the number of listings on its site, meaning it is now catching up with industry giants Zoopla and Rightmove
Rightmove and ZPG downgraded to 'hold' by Liberum
ZPG is trading on or around the offer price from private equity firm Silver Lake while Liberum thinks anyone hoping for a bidder emerging to drive up Rightmove's share price will be disappointed
Three property portals the golden scenario for website group OnTheMarket
Ian Springett, OnTheMarket’s co-founder and chief executive officer could instantly see the issues that made estate agents frustrated by the duopoly of Rightmove and Zoopla
OnTheMarket shares climb above property portal group’s 165p float price for the first time
Some of the main news-driven risers and fallers in London on Wednesday afternoon ...
What’s next for internet property portals after Zoopla parent ZPG’s £2.2bn takeover?
Analysts expect more consolidation in the sector after Silver Lake’s £2.2bn offer for ZPG, and some have even suggested that a rival bid for the Zoopla owner may be on its way
FTSE 100 ends week on a positive note; ITV is top riser
ITV's trading statement at the AGM gave the broadcaster a hot in the arm
Investments and investor services
Stanley Gibbons rises on funding deal, while Kingspan slumps
A look at some of the top risers and fallers in London today
Rightmove reports 10% profit rise and ‘record number’ of customers
Rightmove said 1mln UK properties were advertised on the website
Investments and investor services
FTSE 100 closes in the red as RBS and IAG slump, but the FTSE 250 holds on to gains
The FTSE 100 was dragged lower by falls in the Royal Bank of Scotland and British Airways owner IAG
Archive
Blue chip banking finale due on Friday with full-year numbers from Royal Bank of Scotland
Day ahead includes full-year numbers from FTSE 100-listed Royal Bank of Scotland Group PLC, Standard Life Aberdeen PLC, Pearson PLC, and FTSE 250 bookmaker William Hill PLC
Investments and investor services
FTSE 100 ends in red after lacklustre session
The FTSE 100 extended the morning's losses toe end the day 47 points lower at 7,247
OnTheMarket takes on Rightmove and Zoopla as it makes London trading debut
OnTheMarket raised £30mln of new equity capital as part of the flotation
Investments and investor services
FTSE 100 finishes higher but miners weigh
The pound is down 0.21% against the Euro and off 0.04% against the US dollar at the time of writing
Purplebricks' ascent to put the squeeze on Rightmove
Rightmove is an online operator itself but it still has something to fear from the rise of online agents such as Purplebricks
Countrywide issues profit warning after glum fourth quarter
2017 revenues will be around £672mln, versus market expectations of £698mln. EBITDA of around £65mln is well below the £71.5mln that had been expected by UBS
Investments and investor services
Rio Tinto and Glencore rise on Chinese stats
A look at some of the top risers and fallers in London today.
Investments and investor services
FTSE 100 extends losing streak to four days; ABF top loser
The FTSE 100 closed lower on Thursday as there was no clear direction across global equities
Logging on: Jefferies International assumes coverage of a number of UK internet comparison sites
The American investment bank has started coverage on Auto Trader Group, Moneysupermarket.com, Rightmove, and ZPG, the owner of Zoopla
FTSE 100 fagged out as US Food and Drug Administration targets nicotine levels in cigarettes
Despite the beating meted out to IMPs and BATs, the Footsie rallied in the last half hour to trim its heavy losses
Archive
BT Group update eyed after regulatory reprieve; legacy issues key for Barclays
Day ahead: First quarter update from BT Group PLC, second quarter results from Barclays PLC ...
Deutsche Bank expects Just Eat’s Hungryhouse acquisition to get green light from regulators
The CMA announced last month it would be looking into the deal amid concerns that it might leave restaurants worse off
Archive
William Hill to report improved trading after successful Cheltenham for bookmakers
William Hill reports a trading update for the 17 weeks to 25 April under new chief executive Philip Bowcock
Archive
Pensioners, Ofcom and rivals snap away at BT
Week ahead: BT and Talk Talk: ITV, Barratt Developments, Centrica, William HIll and more ...
Archive
THE NAKED FUND MANAGER - Why the best businesses have great cash conversion
The top 20 companies using the CF Growth Profile beat the bottom 20 by 16% pa over last two years
Rightmove has brokers sitting on the (picket) fence
The CEO is going and the number of estate agents on the system has gone into decline, creating some uncertainty
Archive
RBS bodily harm and why Rightmove's boss won't be taking over at Leicester City
Trending: Why RBS is still losing money; why the Rightmove boss won't be taking over as boss of Leicester City; Saffron Energy - it's a gas, gas, gas
Rightmove's chief executive steps down as real estate website's full year profits rise
Rightmove plc (LON:RMV) has today announced the departure of its chief executive as it reported a rise in full year profits. The UK property website said Nick McKittrick will step down as chief executive at the annual general meeting on 9 M
FTSE 100 ends lower on the week as loss-making RBS drags ticker south
London’s FTSE 100 ended lower on Friday, dragged lower by heavyweight loser RBS after it reported a ninth straight year of losses
Archive
Day ahead: RBS, StanChart last on banks' 2016 results roller coaster
RBS has already had a big boost this week after the majority taxpayer-owned bank confirmed on Monday that it has shelved plans to sell its Williams & Glyn chain.
Archive
Zoopla has the foundations, now time to build on them, says City broker
Analysts at Liberum reckon the online property group’s solid 2016 is a sign of things to come
Trending - Marston's, Hammond, Countrywide, housing and more
A look at some of the trending topics of the day - 24 hours on from the Autumn Statement
Archive
Rightmove climbing ladder despite Brexit gloom - broker
Some early broker stances and target prices on Thursday
Archive
Brokers: Centrica in favour with Credit Suisse
In a market where everyone is panicking about house prices and property funds, online house-seller Rightmove remained a source of tranquillity.
Builders and building materials
UK shares rise as a session of superlatives grips the City
London blue-chip shares closed Wednesday at a more than one-year high, AIM paper had its best level in over two years, and mid-caps briefly beat pre-Brexit levels
Risers & Fallers: Kimberly Enterprises, LMS Capital, Metro Bank, Morgan Advanced Materials, TechFinancials, Xcite
The interims from Morgan Advanced Materials and Metro Bank pleased the market
Archive
Brokers: Halifax reports a 40% rise in property sales after Brexit
"Our view is that it is early days and everyone is waiting to see what the terms will be between the UK and Europe," said analysts at Knight Frank.
BREXIT WATCH: 'Brexit will hit Capital' warns Osborne
The chancellor warned a vote to leave would be a major blow to the health of the UK economy and the Capital.
Archive
Citi downgrades Halfords as it 'gets ahead of itself'
A look at some broker upgrades and downgrades on the day
Investments and investor services
The week's gains in London trimmed
It was a drab end to a decent week, with the big winners on Aim including Scapa, Verseon, Next Fifteen, Boohoo.com and ASOS.
Oilers enjoy their day in the sun; INTU biffed by BRC report
The AIM All-Share remained in positive territory, though only just (it was up 0.09 points at 732.62).
Risers and Fallers: Cranswick brings home the bacon with chicken buy
Major share price risers and fallers in London at 3.45pm
Royal Bank of Scotland to unveil eighth year of losses
State-owned bank to take £2.5bn hit from PPI and other scandals
Builders and building materials
Go for volume plays in housing market's next phase
Since the beginning of 2010, the FTSE Household Goods & Home index has shot up 142%, but now is not the time to bank profits, Liberum argues.
Archive
FTSE100 closes higher as eyes turn to Fed
UK shares added 1.16% to close higher on Wednesday....
Rightmove shares move higher as it increases customer base
Shares in property sales portal Rightmove nudged almost 4% higher as it revealed ever more people are turning to it when hopping homes.
Archive
Wednesday's agenda - Sky among the riders as results pour in
Wednesday sees a veritable clutch of results statements from some big guns....
Risk-v-reward favours US bonds ahead of fireworks
The 'Grexit', BP, BAE Sytems, and Rightmove are under Friday's broker spotlight
Investments and investor services
Broker Spotlight – Next, Rightmove, Zoopla, Monitise, Meggitt, Seeing Machines...
Barclays Capital lifts its price target to 9000p for Next