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London open: easyJet flying high as profits surge

Your Money
Written By:
Your Money
Posted:
Updated:
19/11/2013

Budget airline easyJet gained early on after boosting annual profits by more than half and saying it is returning £308m to shareholders.

easyJet said its allocated seating strategy, website improvements and its Europe by easyJet advertising campaign helped it to boost pre-tax profit in the year to September 30th rose 51% to £478m.

Investment in its television productions paid off for ITV in the third quarter, with revenues rising ahead of guidance and audience share swelling to boost future advertising potential. The stock advanced strongly in morning trade.

Heading the other way was Intertek as the product testing firm said that the industry-wide headwinds experienced in the first half have persisted for longer than expected.

Mining stocks were largely out of favour this morning with Fresnillo, Vedanta, Anglo American, Antofagasta and Rio Tinto tracking metals prices lower.

Fund manager Aberdeen was in the red, pulling back after a 15% surge on Monday following the announced acquisition of the Scottish Widows Investment Partnership Group from Lloyds, as well a strong increase in annual profits. Numis downgraded the stock to ‘hold’ this morning but lifted its target price from 465p to 495p.

FTSE 100 – Risers
easyJet (EZJ) 1,330.00p +5.89%
Amec (AMEC) 1,184.00p +1.46%
GlaxoSmithKline (GSK) 1,625.50p +0.74%
Capita (CPI) 983.50p +0.67%
National Grid (NG.) 779.00p +0.58%
SSE (SSE) 1,393.00p +0.29%
TUI Travel (TT.) 388.30p +0.28%
British Sky Broadcasting Group (BSY) 823.50p +0.18%
Imperial Tobacco Group (IMT) 2,429.00p +0.12%
British American Tobacco (BATS) 3,381.00p +0.06%

FTSE 100 – Fallers
Intertek Group (ITRK) 3,035.00p -4.59%
Aberdeen Asset Management (ADN) 477.00p -2.59%
William Hill (WMH) 359.80p -2.44%
Vedanta Resources (VED) 966.00p -2.28%
Anglo American (AAL) 1,410.00p -1.98%
Smiths Group (SMIN) 1,406.00p -1.88%
Fresnillo (FRES) 898.50p -1.86%
Antofagasta (ANTO) 797.50p -1.85%
Petrofac Ltd. (PFC) 1,179.00p -1.75%
Rio Tinto (RIO) 3,211.50p -1.62%

Source: ShareCast


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