Friday, 19th October: Earnings season is set to kick off next week which has encouraged investors to flee from European airline companies, resulting in the travel experts of the industry being splattered in red. On the FTSE 100, easyJet landed at the very bottom, more than 6.0% down in the afternoon, and almost 30.0% lower since the start of the year.
Intu Properties started the day at the top of the FTSE 250 index this morning having spent the majority of the year creeping lower with regards to their share price after the second attempt of an indicative takeover proposal by a consortium including Peel Group, Brookfield property Group and Olayan Group. The initial offer at the beginning of October of 205p per share was revised to 215p per share, valuing the company at £2.9 billion.
Facebook announced today that they are hiring ex-deputy prime minister Nick Clegg to take on the role as head of global affairs and communications team. After dealing with a fair share of scrutiny in recent times, Clegg hopes to help Facebook with his expertise and skills in dealing with controversial issues.
The pressure from airlines wasn’t quite enough to push the blue-chip index down, as they ended the day 0.32% lower at 7049, marginally higher than the start of the week, but quite a bit lower when compared to the start of the month.