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BUZZ-UK property stocks: top of FTSE 250 after results

Reuters - UK Focus

** UK property stocks on a tear after very strong numbers from Rightmove & a solid H1 from Foxtons --assuaging concerns investors may have had over the London-focused estate agent which issued a profit warning late 2014

** As the FTSE 250 takes its bounce over the last two days to c.1%, Foxtons up 7.7%, its best day since Conservative Party's election win early May which removed a tax threat, with Rightmove (LSE: RMV.L - news) 5.8% higher

** Property portal Rightmove sees visits to website up 17% YoY to a record 110 mln per month; posts revenue up 16%, operating profit up 18% & confident of delivering on its FY expectations

** Foxtons, which warned over stumbling London property sales back in October, posts adjusted EBITDA of £20.5 mln, broadly in line (e.g. vs £21 mln forecast flagged by one broker in pre-market), on track to meet FY with stronger H2 (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)