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FTSE 100 ends higher as EasyJet shares take off | |
(about 4 hours later) | |
Shares in EasyJet took off on Tuesday as the airline said it was benefitting from other carriers' woes. | Shares in EasyJet took off on Tuesday as the airline said it was benefitting from other carriers' woes. |
It said revenues at the start of its new financial year had been "encouraging", helped by the demise of some rival operators. | It said revenues at the start of its new financial year had been "encouraging", helped by the demise of some rival operators. |
Monarch, Air Berlin and Alitalia have all gone into administration this year. | Monarch, Air Berlin and Alitalia have all gone into administration this year. |
Its positive comments overshadowed news of a 17% fall in full-year profits to £408m, after what EasyJet called a "difficult year". | Its positive comments overshadowed news of a 17% fall in full-year profits to £408m, after what EasyJet called a "difficult year". |
EasyJet shares rose just over 5% leading the FTSE 100 higher, with the share index closing 21.88 points higher at 7,411.34. | |
Babcock was the biggest faller in the FTSE 100, down 6.8%, after it warned that reviews of UK defence spending could hit its revenue growth. | |
In the FTSE 250, shares in temporary power provider Aggreko sank 11% as its third quarter trading update disappointed investors. | |
Problems relating to pricing in Argentina led to revenues at the firm's power solutions utility division - which operates mobile power plants - dropping 15%. | Problems relating to pricing in Argentina led to revenues at the firm's power solutions utility division - which operates mobile power plants - dropping 15%. |
On the currency markets, the pound slipped 0.02% against the dollar to $1.32330 and was 0.08% higher against the euro at €1.17420. |