Property website Rightmove looks on course to be booted out of London’s blue chip share index this week after a stalling housing market and increased competition. Rightmove is among candidates to be relegated from the FTSE 100 Index when the FTSE Russell EMEA Committee confirms the results of its quarterly review, according to The Share Centre.
Since hitting an all-time high in June, the stock has fallen 7 per cent due to fears over the health of the property market and pressure from rivals such as Zoopla and Purplebricks.
Purplebricks Group plc (LON:PURP) engages in estate agency business in the United Kingdom and Australia. It provides services relating to the sale of properties. The company was formerly known as New Broom Limited and changed its name to Purplebricks Group plc in December 2015. Purplebricks Group plc was incorporated in 2012 and is headquartered in Solihull, the United Kingdom.