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FX.co ★ FTSE 100 Marginally Lower; Rightmove Shares Surge 21%

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typeContent_19130:::2024-09-02T10:17:00

FTSE 100 Marginally Lower; Rightmove Shares Surge 21%

On Monday, UK stocks showed little movement, bouncing back from early losses following a survey indicating that British factories experienced their strongest month in over two years in August, driven by increased output, new orders, and employment.

The manufacturing PMI was finalized at 52.5 in August, an increase from July's 52.1, marking a 26-month high.

The benchmark FTSE 100 was slightly down by 0.1 percent, standing at 8,368, after dipping to a low of 8,353.18 earlier.

In corporate developments, Concurrent Technologies surged 6.5 percent after the computer products, systems, and mission-critical solutions manufacturer announced record interim results.

Conversely, Kainos Group, an Irish software company, plummeted 15 percent following an announcement that it anticipates full-year revenues to fall short of market expectations.

Rightmove saw a dramatic rise of 21 percent, as Australian digital advertising firm REA Group confirmed it is considering a potential cash and share offer for the British real estate online portal.

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