Market Report: RS Group leads way on takeover talk, UK house prices may be cooling and crypto gains



The Market Report with Katie Pilbeam.

FTSE 100 pushed ahead in early trading, up 11 points to 7,512. RS Group leads the way following rumours over the weekend the company could be in line for a takeover.

House price growth in the UK may be cooling with figures released by online property website, Rightmove, showing the first fall this year. Average prices in August were down 1.3%.

Enhertu, AstraZeneca’s drug for women with HER2-positive breast cancer impressed in its latest study with a significant improvement in survival rates. Researchers targeted difficult-to-treat groups of women.

Crypto markets gained 1.6% over the weekend as Ethereum surged higher. Buyers piled in on strong signals from founder Vitalik Buterin that September 15 will see the hotly anticipated Merge protocol upgrade.

Seeing Machines said revenue is in line with market expectations despite supply chain issues. Revenue is expected to grow 15% from the previous year.

Eckoh said order levels grew substantially in the first two months of trading this year. Orders for the first quarter of the current fiscal year are ‘significantly’ higher than a year ago.

East Star Resources was awarded three new licences in Kazakhstan. The new licences incorporate two historic operating and high-grade copper-lead-zinc mines and one known deposit.

source