easyJet, HomeServe and Kingfisher

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“Blue-chips edged lower despite an upbeat start on markets in Asia this morning, as traders maintained a cautious approach ahead of this week's Budget announcement,” says AJ Bell Investment Director Russ Mould.

“Low-cost airline easyJet topped the FTSE100 board in early trading despite a 17.3% fall in headline pre-tax profits. easyJet delivered a robust performance during a difficult year for the aviation industry, flying a record 80 million passengers at its highest ever annual load factor. easyJet’s focus on sustainable cost control has put it at a strategic advantage during a period when there have been bankruptcies and some airlines have struggled operationally. easyJet’s shares were up by more than 4.6%.

“Repairs group HomeServe was one of the biggest FTSE250 risers following strong first half figures and the acquisition of the remaining 60% of Checkatrade. HomeServe has global ambitions and saw outstanding organic growth in North America, which will be further boosted by the acquisition of its largest ever policy book from Dominion Products and Services. The group also developed key partner relationships in France and Spain and continues to explore other partnership-based opportunities for international expansion. HomeServe’s shares were up by over 3.1% in early trading.

“DIY giant Kingfisher was an early faller after a drop in like-for-like sales in the third quarter. Strong growth at Screwfix and in Poland were offset by continued weak sales in France, alongside some business disruption from its ONE Kingfisher plan. Like-for-like sales in the UK and Ireland were up 1.5% as double-digit growth at Screwfix more than compensated for a 1.9% fall at B&Q. Kingfisher is encouraged by early customer reaction to its new ranges and remains on track to meet its full year strategic milestones, for the second year in a row. Kingfisher’s shares were down by more than 1.2% in early trading.”

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