Shares in online property portal Rightmove (RMV) have been trading in the same sideways range for a year, and each time they look set to break out to higher ground the sellers emerge out of the woodwork.

Supporters – including the Shares team, who picked the stock as a Great Idea back in January, towards the bottom of the range – will be hoping the firm brings positive news when it publishes its half-year results on 26 July.

In its last trading update in May, the FTSE 100 firm lowered its forecast for ARPA (average revenue per user) from £100 to £110 ‘added’ to £75 to £85 ‘added’ due to a growing number of lower-paying letting agents and housing associations using its services.

Except for this change, ARPA guidance would have been unaltered, and as it was the outlook for full-year organic revenue growth of 7% to 9% and a 70% operating margin was maintained.

However, the headline of lower average user revenues stuck with the market and sank the stock for a few days, so investors will be hoping this time round the company puts across a clear message.

In its favour, the housing market seems to be finding its feet again with prices and transactions both on the rise in recent months. 

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

26 July: Babcock International

29 July: Altitude

FIRST-HALF RESULTS

26 July: IMI, Segro, Drax, Rightmove

30 July: Standard Chartered, Staffline, St James’s Place, Inchape, Spectris, BP, Fresnillo, Essentra, Convatec

31 July: Restore, Shaftesbury Capital, Reach, HSBC, Rio Tinto, Rathbones, Endeavour Mining, Taylor Wimpey 

1 August: Elementis, Mondi, Coats Group, Rolls Royce Holdings, Schroders, London Stock Exchange Group, Robert Walters, BAE System, Wizz Air

TRADING UPDATES

26 July: Record

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