Easyjet

Ticker EZJ

Today's data summary

Market closed
% change
+0.50%
Price Pence
1113.00
Change
+5.50
As of 21:08 23 Jul 2019
Market cap. Pound sterling
4,398.67 million
As of 21:08 23 Jul 2019

Latest updates

Pub group leads FTSE 250 risers

EI Group
EI Group

Shares in Ei Group, the pubs business formerly known as Enterprise Inns, jumped by 38.87% at 285.9p to lead the FTSE 250 risers after announcing it would be bought by Slug & Lettuce-owner Stonegate.

EasyJet is also ahead, up 3.1% at £10.66 after it said it expects annual pre-tax profits to meet expectations.

The FTSE 250, however, is down 0.31% at 19,553.29.

On the FTSE 100 - down 0.47% at 7,500.34 - precious metals miner Fresnillo is the biggest blue chip faller, off 3.9% at 859.9p.

The pound is edging higher against the dollar, trading at $1.2465.

Easyjet names new chief operating officer

EasyJet has also announced that Peter Bellew is joining as chief operating officer from Ryanair where he was chief operations officer since December 2017.

His departure from Ryanair was announced earlier this month.

Easyjet robust performance

plane
Getty Images

Easyjet has issued a third quarter trading update in which it says it expects to make pre-tax profit of between £400m and £440m - in line with market expectations.

"We remain very focused on delivering our revenue initiatives and driving costs down to enhance our profitability per seat," said Johan Lundgren, chief executive.

"EasyJet's third quarter performance was robust and despite the tougher macroeconomic conditions was in line with expectations."

FTSE winners and losers

A mine
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Iron ore miner Rio Tinto is leading the way in the FTSE 100 so far this morning. Shares in the oil giant are up 1.2% at 4,834.75.

The only other two shares up more than 1% are Antofagasta - up 1.28% at 870.80 - and EasyJet, which has bounced back 1.08% to 898.10 after yesterday's slide.

Tui is leading the losers, the travel company is down 2.81% at 720.20.

Also dropping more than 2% are Evraz - down 2.31% at 693.10 - and Carnival, which has fallen 2.12% to 3,972.

Airline shares remain subdued

That Lufthansa profit warning has hit many of its rivals. Shares in the German airline have performed worst of all; they are down around 12%, falling 2.02 to 15.68.

On the London market EasyJet has fallen 5.32% to 879.50, while Wizz Air is down 4.36% to 3,467.

Airline woes set to continue

Airport
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Shares in the airlines sector have been spooked by that profit warning from Frankfurt-listed Lufthansa that we reported earlier.

“The fact Lufthansa is still moaning would suggest life is getting even tougher for the airlines," warned Russ Mould, investment director at A J Bell.

“While price cuts are fantastic news for travellers, the airline can’t sustain loss-making operations forever.

“Ryanair issued a profit warning in January citing lower-than-expected air fares. EasyJet warned in April, flagging slow summer sales amid Brexit uncertainty. And Wizz Air warned at the end of May that its profits would be lower than expected this year because of a tough operating environment."

M&S to avoid demotion from the FTSE 100

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Retail giant Marks & Spencer is perilously close to being booted out of the FTSE 100 this week for the first time since the index was launched in 1984.

Its shares have tumbled by nearly a fifth over the past six months as sales and profits have come under pressure.

But it is likely to be saved from an embarrassing demotion from Britain's blue chip share index in this week's FTSE reshuffle thanks to its £601m investor cash call.

Instead budget airline Easyjet could face the chop after six years in the index, analysts reckon.

'There are many all Airbus airlines'

Boeing 737 Max
Reuters

One of our readers, Andrew, has emailed in to say that he won't be flying on Boeing's 737 Max when it returns to service.

He says: "There are many all Airbus airlines, for example easyJet and Wizz Air flying from the UK, so options are available not to get on one."

He adds: "Boeing is desperate to get the Max flying soon and I certainly wouldn’t want to be the person certifying it as fixed."

What about you? Would you be happy to board a Boeing 737 Max? What would it take to persuade you to fly on one?

Email us at bizlivepage@bbc.co.uk