Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Rightmove to Exit FTSE 100 and Join FTSE 250 After Annual Review

Rightmove will leave the FTSE 100 index and move to the FTSE 250 later this month, following confirmation from FTSE Russell. The change is part of FTSE Russell's latest annual review and will take effect from the start of trading on 22nd June, barring exceptional circumstances.

FTSE Russell, which manages the FTSE indices, announced the changes on 3rd June. The review is based on company rankings by market capitalisation at the close of business on 2nd June. Rightmove had previously appeared on an indicative FTSE 100 deletion list in March but retained its place in the index at that time.

Rightmove first floated on the London Stock Exchange in March 2006 at 335p per share, valuing the business at £425 million. Its shares reached a high of around 800p in 2021. In September 2024, Australia’s REA Group made a takeover proposal that valued Rightmove shares at 775p each, but the board rejected all four approaches before REA withdrew its interest later that month. Last week, Rightmove’s shares were trading at around 438p.

A spokesperson for the London Stock Exchange Group, FTSE Russell’s parent company, confirmed to The Negotiator that Rightmove will leave the FTSE 100 and join the FTSE 250 index as stated in the review notice. Rightmove has been approached for comment.

This change may be of interest to UK letting agents and inventory clerks who monitor the performance and market status of major property portals.