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“The FTSE100 was down by over 1% in early trading as a pall of uncertainty hangs over the market amid the US elections, which helped Wall Street and Asia equities markets lower overnight, and the next stage of Brexit following yesterday’s High Court ruling,” says AJ Bell Investment Director Russ Mould.
“Paddy Power Betfair has increased its full-year guidance after a strong third quarter. The group benefited from the fall in sterling with group revenues up 25% to £404m which included a £28m currency gain and a strong demand during the Euro 2016 football tournament.
“Work is underway to combine the best of Betfair and Paddy Power's technology into a multi-brand, multi- channel, multi-jurisdictional platform that will lead to increased pace of development and faster roll out of new products. Paddy Power Betfair topped the blue-chip board in early trading with its shares up by more than 3.6%
“Budget airline easyJet increased passenger numbers in October but the load factor, which represents the number of passengers as a proportion of the number of seats available, falling by 3.1 percentage points to 90.2%. October’s fall has reduced the load factor on a rolling 12-month basis to 91.3% from 91.7% a year ago although passenger figures were 6.3% up at 73,581,729. easyJet’s shares were down by over 2%.
“Energy storage and clean fuel company ITM Power’s shares jumped after it signed a refuelling contract with Hyundai Motor UK. This is the fifth fuel supply contract that ITM Power has signed and it now has £16.85m of projects under contract and a further £4.15m of contracts in the final stages of negotiation. ITM’s shares were up by over 9.5%”
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