ITV has confirmed early stage talks over a possible sale of its broadcasting arm to Sky.
A deal could value the division, which is home to ITV’s free-to-air linear TV channels and streaming service ITVX, at £1.6 billion.
British Airways owner IAG has reported results, while house prices showed a surprise rise in October.
FTSE 100 Live Friday
- ITV confirms Sky talks
- IAG results disappoint
- Rightmove shares slide
Market update: IAG and Rightmove under pressure, ITV up 15%
09:55 , Graeme EvansHigh-flying IAG shares were today jolted by weaker-than-expected results as the British Airways owner joined Rightmove at the foot of the FTSE 100 index.
London’s top flight extended the retreat since Wednesday’s record close by falling 0.4% or 38.81 points 9696.97.
Rightmove shares slid 19% - down 123.4p to 532p - after the property portal outlined major AI-led investment plans for the next three years.
The strategy means Rightmove expects underlying operating profit growth of 3-5% in 2026. It added that revenue ambitions outlined in November 2023 are now likely to be achieved later than 2028.
Chief executive Johan Svanstrom said: “We are investing to accelerate our capabilities, which we are confident will create an even stronger platform and higher-growth business over time.
“We aim to further advance our leading digital position in the UK property ecosystem.”
IAG gave up some of this year’s 40%-plus gain, falling 8% or 34.8p to 379.3p after it posted third quarter results slightly short of City expectations.
Operating profit of 2.05 billion euros (£1.8 billion) was 2% higher, with currency movements a factor in similar passenger revenues to last year’s record performance.
IAG reiterated guidance for the year despite reporting some softness in US point-of-sale economy leisure demand.
Other fallers in the FTSE 100 included Auto Trader, which weakened 7% or 59.6p to 739p, and LexisNexis business Relx following a decline of 85p to 3231p.
Among the risers, hotel business IHG lifted 108p to 9626p and Lloyds Banking Group added half a penny to 91.6p.
The FTSE 250 index outperformed the blue-chip index after posting a rise of 17.56 points to 21,922.59.
ITV shares jumped 15% or 10.2p to 77.9p after it confirmed early stage talks over a possible £1.6 billion sale of its broadcasting arm to Sky.
Rightmove outlines AI investment plans, shares fall 18%
09:02 , Graeme EvansRightmove shares have fallen sharply after it said it will accelerate investment in order to support double-digit underlying operating profit growth in the longer term.
The property portal’s plans include a “re-platform” of its operational back-end infrastructure and introduction of AI interfaces to drive efficiency, speed and value.
The investment means Rightmove expects underlying operating profit growth of 3-5% in 2026. It added that revenue ambitions outlined in November 2023 are now likely to be achieved later than 2028.
Shares fell 18% or 119.4p to their lowest level in over a year at 536p.
Chief executive Johan Svanstrom said: “AI is now becoming absolutely central to how we run our business and plan for the future.
“We are already working on a wide range of exciting AI-enabled innovations for the benefit of our partners and consumers, and see vast potential utilising our leading reach and connected data.
“We are investing to accelerate our capabilities, which we are confident will create an even stronger platform and higher-growth business over time.”
IAG and Rightmove fall sharply in FTSE 100, ITV up 18%
08:19 , Graeme EvansIAG shares have fallen 8% after the British Airways and Iberia owner reported results for the quarter to 30 September.
Operating profit of 2.05 billion euros (£1.8 billion) came in slightly short of City hopes, while it reported some softness in US point-of-sale economy leisure.
Hargreaves Lansdown analyst Aarin Chiekrie said: “IAG’s steep ascent levelled off in the third quarter, as growth failed to soar to the heights the market expected.
“Mirroring a fellow airline, Air France-KLM yesterday, the miss stems from lower cargo revenues, with last year’s figures benefiting from increased volumes ahead of the US presidential election.
“But the bigger picture needs to be kept in mind - this was a tough quarter. Stepping back, revenues and earnings per share are still up 18% and 27% year-to-date, highlighting that the group’s strategy is working.”
IAG shares fell 33.2p to 380.9p, still more than 25% higher year-to-date.
Rightmove shares slumped 24% or 158.8p to 496.6p after it said increased investment would mean slower underlying operating profit growth of 3-5% in 2026.
The FTSE 100 index fell 20.58 points to 9715.20.
In the FTSE 250, ITV shares 18% or 12.3p to 80p after it confirmed early stage talks over a possible sale of its broadcasting arm to Sky.
Greencore-Bakkavor deal clears CMA hurdle
07:50 , Graeme EvansA merger of food suppliers Greencore and Bakkavor is on track to complete early next year after the companies agreed remedies to competition concerns.
An initial investigation by the Competition and Markets Authority found that the deal could result in a substantial lessening of competition in the supply of own-label chilled sauces – such as pasta and stir-fry sauces.
Both businesses sell their products to supermarkets and grocery retailers such as Tesco, Marks & Spencer, Sainsbury’s, Waitrose and Asda.
To resolve the CMA’s concerns, the businesses have offered to sell Greencore’s only chilled sauce and soups manufacturing plant in Bristol.
The site and its related business generated revenues of approximately £47 million in the year to 26 September, about 1% of the revenues of the combined group.
Greencore is currently engaged with a number of prospective purchasers.
ITV confirms sale talks with Sky
07:32 , Graeme EvansITV today confirmed that it is holding talks over the possible sale of its broadcast arm to Comcast-owned Sky for an enterprise value of £1.6 billion.
ITV’s media and entertainment division includes its free-to-air linear TV channels and streaming service ITVX.
The potential deal does not involve the company’s Studios production business.
ITV said: “There can be no certainty as to the terms upon which any potential sale may be agreed or whether any transaction will take place. A further announcement will be made in due course if appropriate.”
House prices show big monthly jump - Halifax
07:14 , Graeme EvansOctober saw the biggest monthly rise in UK house prices since January this year, lender Halifax said today.
The value of the average UK home increased by 0.6% or £1,647, bringing the typical property price up to £299,862 – the highest on record.
Annual growth also increased to 1.9% from 1.3%.
Amanda Bryden, Halifax head of mortgages, said: “Demand from buyers has held up well coming into autumn, despite a degree of uncertainty in the market, with the number of new mortgages being approved recently hitting its highest level so far this year.”
IAG posts higher profit, reports US leisure slowdown
07:11 , Graeme EvansBritish Airways owner IAG today said demand for travel remains strong as it reported a 2% rise in third quarter operating profit to 2.05 billion euros (£1.8 billion).
It said: “We are on track to deliver another year of revenue and earnings growth, margin progress and strong shareholder returns.”
Passenger revenue increased by 177 million euros on a constant currency basis, having delivered a record figure for the same quarter of 2024.
Across the financial year, operating profit is up by 18% and adjusted earnings per share 27% higher.
The Iberia and Aer Lingus owner reported some softness in US point-of-sale economy leisure.
Asia markets fall after US tech sell-off, FTSE 100 steady
06:59 , Graeme EvansTech-focused stocks last night bore the brunt of a US sell-off as the Nasdaq Composite finished 1.9% lower and the S&P 500 index fell 1.1%.
The concern over inflated AI valuations meant Nvidia shares fell 4%, while Microsoft dropped 2% and Amazon reversed 3%.
The FTSE 100 index posted a resilient performance in comparison to leading European benchmarks, ending 41.30 points or 0.4% lower at 9735.78.
London’s top flight is seen opening slightly lower this morning. Asia markets are lower, with the Hang Seng index and Nikkei 225 down by about 1%.
