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“The FTSE100 broke through the psychologically important 7000 barrier in early trading with blue-chip multinationals set to benefit from the plummeting pound,” says AJ Bell Investment Director Russ Mould.
“Bakery giant Greggs topped the FTSE250 board after a bullish third quarter update. Total sales were up 5.6% with the group’s summer menu proving particularly popular. Greggs has embraced changing diets and lifestyles and introduced an extended range of ‘balanced choice’ salads and yoghurts to broaden its appeal and has also seen continued strong growth at breakfast time. Greggs will now be hoping its autumn/winter menu, which includes new lower-calorie ‘balanced choice’ bakes and soups along with a range of new snacks with gluten-free options, maintains this momentum. Greggs was up more than 2.2% in early trading.
“Pharmaceutical giant AstraZeneca was near the foot of the FTSE100 after disappointing results from a massive trial of its heart disease drug Brilinta. The drug is already approved as a post-heart attack medicine but it failed to meet its target for the prevention of cardiovascular death, heart attack or ischaemic stroke in a study which involved 13,885 patients in 28 countries.
“Central and eastern Europe-focused Wizz Air’s saw continued growth in September. Passenger numbers were up by 17.9% which outstripped the 17% increase in capacity and raised the load factor from 90.9% to 91.6%. Wizz Air increased its fleet and continued to expand its network in September with the opening of its 25th operating base in Kutaisi, Georgia.”
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