7th Nov 2025 07:56
(Alliance News) - ITV confirms talks with Sky to sell its Media & Entertainment unit, IAG backs its 2025 outlook and Rightmove eyes revenue growth in 2026.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 2.1 points at 9,733.68
GBP: higher at USD1.3116 (USD1.3106 at previous London equities close)
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ECONOMICS
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The average UK house price grew faster than expected in October, Halifax data showed. For October, the average price was GBP299,862, up 0.6% from September and 1.9% higher than a year ago. The changes beat the FXStreet-cited consensus, which was for an on-month increase of 0.1% and a 1.5% rise annually. Prices in September had fallen 0.3% monthly and climbed 1.3% annually. "October saw the biggest monthly rise in UK house prices since January this year," said Amanda Bryden, head of mortgages at Halifax. "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."
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BROKER RATINGS
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Goldman Sachs cuts Weir Group to 'neutral' (buy) - price target 2,900 (2,570) pence
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Investec reinitiates Avon Technologies with 'buy' - price target 2,300 pence
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RBC cuts Sabre Insurance to 'sector perform' (outperform) - price target 135 (170) pence
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COMPANIES - FTSE 100
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International Consolidated Airlines Group leaves its outlook for 2025 unchanged as it reports slightly lower profit and flat revenue in the third quarter. The airline operator, which owns British Airways and Iberia, reports virtually flat revenue of EUR9.33 billion in the three months to the end of September. Pretax profit falls 2.1% to EUR1.87 billion from EUR1.91 billion a year ago. Total expenditure on operations falls 0.6% to EUR7.28 billion from EUR7.32 billion, while total net non-operating charges rises to EUR184 million from EUR104 million. IAG leaves its outlook for the full year unchanged and says its revenue is positively booked for the fourth quarter. It says it is on track to deliver "another year of revenue and earnings growth, margin progress and strong shareholder returns". The firm says that demand for travel remains strong. It announces an interim dividend of 4.8 euro cents per share. The firm says it has nearly completed the EUR1 billion share buyback announced in February. It intends to announce further returns of excess cash to shareholders in its 2025 results. "We delivered a strong performance in the third quarter and remain on track to deliver another year of growth in revenues, profit and shareholder returns," says Chief Executive Officer Luis Gallego. "We remain focused on long-term value creation for our shareholders, helping to deliver our financial ambitions through disciplined investment for the future to improve customer experience and operational efficiencies."
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Rightmove reaffirms its 2025 guidance given in July and introduces 2026 guidance, as it says it expects revenue growth between 8% and 10%. The Milton Keynes, England-based real estate portal operator says it continues to demonstrate strong execution and results. Rightmove expects underlying operating profit growth between 3% and 5% in 2026. It reaffirms 2025 guidance for revenue growth of around 9%, within the existing guidance range between 8% and 10%. It expects a 70% underlying operating margin. The company targets over 10% revenue growth per year in 2030. "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. We aim to further advance our leading digital position in the UK property ecosystem," says CEO Johan Svanstrom.
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COMPANIES - FTSE 250
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ITV confirms it is in preliminary discussions to sell its Media & Entertainment business to Sky, which is owned by Comcast, for an enterprise value of GBP1.6 billion. The London-based television broadcaster and content producer says there can be no certainty as to the terms of any potential sale of if a transaction will take place. On Thursday, the Financial Times reported that Philadelphia-based Comcast sees the potential to combine ITV's TV business with Sky, which the US group bought in 2018, to create a leading streaming service in the UK.
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OTHER COMPANIES
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Wheaton Precious Metals says revenue rises 55% to USD476.3 million in the three months to the end of September from USD308.3 million. Net earnings surge to USD367.2 million from USD154.6 million. The firm announces a USD0.165 per share dividend, up 6.5% from a year ago. "Our portfolio of high-quality assets continued to deliver strong results, generating record revenue, earnings, and cash flow for the first nine months of 2025," says CEO Randy Smallwood. "We advanced our near-term growth strategy through key milestones including the ramp up of production at Blackwater and Goose, alongside continued construction across six development projects scheduled to come online over the next 24 months. These strong results position us well to meet our annual production guidance of 600,000 to 670,000 gold equivalent ounces and underscores the streaming model's ability to generate predictable levered cash flows in a rising precious metals price environment." The Vancouver, Canada-based mining company strikes a deal to buy a gold stream on the Spring Valley project, located in Nevada, US. Wheaton will pay Waterton Gold upfront cash of USD670 million, in installments as various conditions are satisfied. Under the gold stream, Wheaton will purchase 8% of the payable gold until 300,000 ounces have been delivered, after which it will buy 6% of the payable gold for the life of the mine. "Wheaton is delighted to support one of our existing partners, Waterton, as they advance the Spring Valley project, a large scale gold development in Nevada," says CEO Smallwood. "With its strong geological profile, strategic location, and proven leadership, already demonstrated through our partnership at Mineral Park, Spring Valley aligns perfectly with our commitment to investing in high-quality, value-accretive assets."
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By Michael Hennessey, Alliance News reporter
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Weir GroupAvon ProtectionSabre Insurance GroupInternational AirlinesRightmoveITVWheaton Precious Metals Corp.