GCIFTSE 100 movers: Rightmove surges on takeover interest; UBS lifts Barratt shares
London's FTSE 100 was down 0.1% at 8,364.87 in afternoon trade on Monday.
Rightmove surged to the top of the index after the Australian real estate advertising company REA Group confirmed speculation that it was considering a possible cash and share offer for UK property platform.
REA, majority owned by Rupert Murdoch's News Corp, said in a statement that it sees "clear similarities" between the two groups, but has not yet approached, nor had any discussions with, Rightmove regarding any potential offer.
Russ Mould, investment director at AJ Bell, said: "This news breathed some life into the share price after a static period but don't expect the company to be snapped up without a fight.
"Shareholders will be pushing for a generous deal and other potential bidders may throw their hat into the ring with rival proposals."
Barratt Developments was also in the black after UBS upgraded shares of the housebuilder to 'buy' from 'neutral' and lifted the price target to 630p from 610p.
FTSE 100 - Risers
Rightmove (RMV) 680.60p 22.50%
Auto Trader Group (AUTO) 868.60p 2.07%
Barratt Developments (BDEV) 517.00p 1.93%
Vodafone Group (VOD) 75.52p 1.48%
CRH (CDI) (CRH) 6,822.00p 1.16%
SEGRO (SGRO) 880.60p 1.08%
Beazley (BEZ) 757.00p 0.93%
Fresnillo (FRES) 546.00p 0.83%
Berkeley Group Holdings (The) (BKG) 5,025.00p 0.82%
Land Securities Group (LAND) 634.50p 0.79%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 480.50p -3.20%
BAE Systems (BA.) 1,325.00p -2.79%
Smurfit Westrock (DI) (SWR) 3,506.00p -2.37%
B&M European Value Retail S.A. (DI) (BME) 435.10p -2.22%
Diploma (DPLM) 4,372.00p -2.06%
Halma (HLMA) 2,556.00p -1.92%
Croda International (CRDA) 4,034.00p -1.78%
JD Sports Fashion (JD.) 135.60p -1.70%
Entain (ENT) 635.00p -1.70%
3i Group (III) 3,128.00p -1.60%
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.