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Rightmove PLC

Rightmove plc operates property portals in the United Kingdom and internationally through its subsidiaries. It reports in three segments: Agency, New Homes, and Other. The Agency segment provides resale and lettings property advertising, rental operator advertising and rental services, plus tenant referencing and rent guarantee insurance for lettings agents and landlords. The New Homes segment offers property advertising to new home developers and housing associations, while the Other segment covers commercial and overseas property advertising, non-property advertising such as third-party advertising and data services, and mortgage services. The company serves property professionals including estate and letting agents, developers and operators, surveyors, lenders, mortgage lenders and brokers, and home services providers. Rightmove plc was founded in 2000 and is based in Milton Keynes, the United Kingdom.

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RMV.LSEimpact 4

US Inflation Steady in August as Fed Rate Hike Odds Jump to 87%

US consumer price inflation held steady at 3.4% year-on-year in August, with core inflation cooling to 2.4% annually, but a hotter-than-expected 0.3% monthly core gain lifted market-implied odds of a Federal Reserve rate hike next week to 87% from 72% a day earlier, according to the CME FedWatch Tool. Barclays said the data support a 25 basis point increase at the September meeting, while Oxford Economics analyst Bernard Yaros called a hike "no slam dunk" and ING described any move as a "recalibration" rather than the start of a hiking cycle. London's FTSE 100 closed up 41.52 points, or 0.4%, at 10,650.44, though the large-cap benchmark still fell 1.7% over the week, its worst since July, while the FTSE 250 added 89.79 points to 23,975.73 and the AIM all-share rose 2.92 points to 790.87. In New York, the Dow Jones Industrial Average was up 1.0%, the S&P 500 added 1.1% and the Nasdaq Composite surged 1.3%, helped by US Treasury yields and oil prices easing from earlier highs. Among UK movers, Trainline rose 1.8% after reiterating full-year guidance and announcing a new £100 million share buyback, C&C surged 13% on its agreement to acquire Asahi UK's wholesale interests, and Rightmove gained 2.9% after Sachem Head disclosed a roughly 6.0% stake.
Alliance News·7dRead more →
RMV.LSE

Taylor Wimpey cuts home completion forecast amid challenging UK housing market

Taylor Wimpey has reduced its forecast for UK home completions this year, now expecting between 10,600 and 10,800 units excluding joint ventures, which falls in the lower half of its previous guidance range. The housebuilder reported first-half completions of 4,986, down from 5,264 a year earlier, citing a reduced sales rate and challenging market conditions including weaker pricing and build cost inflation of 3% to 4%. Despite a 1.7% rise in total revenues to £1.68 billion and a swing to a pre-tax profit of £116.8 million, the company warned that without targeted demand support, sector output and UK economic growth could be at risk. Separately, Rightmove cut its full-year revenue growth guidance to between 6% and 8% from a prior 8% to 10%, blaming subdued demand in the new homes market where new build developments fell 6% year-on-year.
Yahoo Finance UK·49dRead more →