Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 100 movers: Rightmove slides as REA walks away; 3i weak
(Sharecast News) - London's FTSE 100 was down 0.7% at 8,259.42 in afternoon trade on Monday. Rightmove tumbled after Rupert Murdoch's Australian property business REA Group said it was abandoning its pursuit of the property portal after a fourth, £6.2m takeover proposal was rejected.
"REA's approach to Rightmove's board was driven by a clear strategic rationale and the opportunity to create a global and diversified digital property company, with strong margins and significant cash generation, underpinned by number one positions in Australia and the UK," it said.
"REA believes the proposed combination would have provided Rightmove shareholders the opportunity to meaningfully participate in a fast growing, diversified, global leader whilst receiving value certainty in an operating environment challenged by increased market competition."
News of the withdrawal came after Rightmove said earlier that it was rejecting the offer on the basis that it continued to undervalue the group.
Under the terms of the latest offer, Rightmove shareholders would have received 346p per share in cash and 0.0417 new REA shares - which implied an offer value of 780p - and a dividend of 6p in cash in lieu of any final dividend for 2024.
BA owner IAG and easyJet both flew lower, possibly due to escalating tensions in the Middle East.
3i Group fell following a report that short-seller ShadowFall Capital and Research has taken out a multimillion-pound short position against the investment trust, saying that its largest holding, Action, was overvalued.
According to the Sunday Times, ShadowFall Capital has taken out the short position on the basis that European discount retail chain Action is significantly overvalued.
FTSE 100 - Risers
Hikma Pharmaceuticals (HIK) 1,918.00p 1.16% Experian (EXPN) 3,966.00p 0.92% BP (BP.) 391.35p 0.82% Glencore (GLEN) 428.90p 0.43% Marks & Spencer Group (MKS) 377.40p 0.37% Scottish Mortgage Inv Trust (SMT) 846.40p 0.36% Next (NXT) 9,776.00p 0.35% Rolls-Royce Holdings (RR.) 526.80p 0.34% Associated British Foods (ABF) 2,329.00p 0.26% Rio Tinto (RIO) 5,322.00p 0.24%
FTSE 100 - Fallers
Rightmove (RMV) 618.20p -7.54% Smiths Group (SMIN) 1,692.00p -3.92% Intermediate Capital Group (ICG) 2,254.00p -3.34% International Consolidated Airlines Group SA (CDI) (IAG) 206.10p -2.92% easyJet (EZJ) 526.80p -2.48% IMI (IMI) 1,838.00p -2.23% Frasers Group (FRAS) 848.00p -2.19% Airtel Africa (AAF) 114.30p -2.14% 3i Group (III) 3,317.00p -2.12% Barclays (BARC) 224.60p -2.03%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
