FTSE Close: CEO exits as Entain shares jump, Rightmove tumbles on rival deal

Shares close mixed in London as investors turn cautious ahead of central bank meetings.

The FTSE 100 index edged up 0.1%, at 7,548.44. The FTSE 250 rose 0.2%, at 18,695.76, and the AIM All-Share ended up 0.1% at 724.10.

Entain’s stock jumped over 5% as chief executive Jette Nygaard-Andersen announced the decision to step down, while property portal Rightmove dropped on a deal for rival.

Entain said Nygaard-Andersen’s exit comes after the Ladbrokes Coral owner entered a deferred prosecution agreement with UK prosecutors over historic bribery offences in Turkey. Her departure was welcomed by investors after recent underperformance and failed expansion plans.

Analysts said there was an “inevitability” about the change given shareholder discontent.

Meanwhile Rightmove stock slid nearly 5% as US firm CoStar announced a deal to acquire rival portal OnTheMarket. CoStar said the deal would create a “genuine disruptor” to Rightmove’s dominance in the UK property search market.

In other moves, Aston Martin shares extended their slide after a downgrade from HSBC. The bank nearly halved its price target on the luxury carmaker’s stock.

Recruitment firm Impellam Group agreed a £483 million takeover from a bidding vehicle. Retailer B&M fell over 6% as a key shareholder offloaded stock.

But ventilation firm Volution Group started its financial year “strongly” with an 8% jump in early revenue. Volution shares closed 4% higher.