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“Blue-chips opened on the front foot following mixed performances on Wall Street and in Asia overnight, and amid a global bond sell-off,” says AJ Bell Investment Director Russ Mould.
“Low-cost airline easyJet is taking its destiny into its own hands with its decision to set up a separate Continental-based airline ahead of Brexit. Current EU flight rights will be high on the agenda when negotiations over the UK’s future relationship with the EU eventually get under way and while easyJet believes there will be an agreement, the shape, form and, crucially, the timing are all imponderables. The group’s full year figures showed profits down nearly 28% at £495m, which was in line with revised guidance. easyJet’s shares were up by more than 2.3% in early trading.
“Pub group Enterprise Inns met its financial objectives in the year to the end of September and while earnings slipped to £292m from £296m, this was in line with expectations and reflected the impact of planned disposals. Enterprise maintained the growth momentum in its leased and tenanted business, while making significant progress in building its commercial property portfolio and managed operations and investments businesses.
“Housebuilder Crest Nicholson saw a blip in sales either side of June’s EU referendum but buyer confidence recovered by the beginning of August and it remains on track to hit its landmark £1bn full year revenue target. Crest Nicholson has continued to make selective additions to its short-term land pipeline. The group achieved planning consents on seven strategic sites and has a further 20 strategic sites going through the planning process. Crest Nicholson’s shares were up by over 3.6%.”
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