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Share Price Information for easyJet (EZJ)

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Share Price: 541.60
Bid: 542.80
Ask: 543.40
Change: -5.20 (-0.95%)
Spread: 0.60 (0.111%)
Open: 550.00
High: 550.80
Low: 541.00
Prev. Close: 546.80
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Slump in easyJet on profit warning hurts Britain's FTSE

Thu, 06th Oct 2016 08:54

(ADVISORY- Follow European and UK stock markets in real time onthe Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

* FTSE 100 index down 0.2 pct

* EasyJet falls after profit warning

* Miners track weaker metals prices

By Atul Prakash

LONDON, Oct 6 (Reuters) - Britain's top share index edgeddown on Thursday, with budget airline easyJet leadingthe market lower after warning its profit would fall by morethan 25 percent this year.

The blue-chip FTSE 100 index was down 0.2 percent by0834 GMT, but remained within striking distance of its recordhigh reached in April last year. The index rose to a 17-monthhigh earlier this week and is up more than 12 percent this year.

Shares in easyJet were down 6.4 percent after hitting a3-1/2-year low as the company said security issues dampeneddemand and low fuel prices meant there was more competition inthe European short-haul market.

"EasyJet is facing challenging times on a number of fronts,and it's one of the worst performing stocks in the FTSE 100since the EU referendum," said George Salmon, equity analyst atHargreaves Lansdown.

"The group say that weaker sterling is making going abroadless affordable for the average Brit, while the rising threat ofterrorism is putting customers off too. These are industry-widefactors. However, the competition is hotting up too."

EasyJet has fallen 40 percent since the Brexit vote on June23.

Miners also fell, tracking a fall in major industrialmetals. The mining index fell 0.6 percent, draggeddown by a fall of around 1 percent in Anglo American,Rio Tinto and Antofagasta.

Among other sharp movers, Smith & Nephew fell 3.4percent after its shares traded without the attraction of latestdividend payouts and as Berenberg lowered its target price forEurope's biggest maker of artificial knees and hips to 1,340pence from 1,485 pence.

Aviva, British Land, Kingfisher, Sky, Travis Perkins and WPP fell 0.5 to 2percent after trading ex-dividend.

Shares in British engineering company GKN rose 2percent, the top gainer in the FTSE 100 index, after HSBCstarted its coverage for the stock with a "buy" rating and atarget price of 395 pence. (Reporting by Atul Prakash; editing by John Stonestreet)

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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*

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*

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