Amazon Take A Stake In Deliveroo

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Friday, 17th May: Just Eat were at the bottom of the FTSE 100 today due to no fault of their own, but because of news which emerged of rival Deliveroo being given a helping hand by Amazon in exchange for a stake in the company. As a result, Just Eat were down more than 9.0% on the day, pushing them back to the same trading levels last seen in January.

EasyJet were having a better day after releasing their half year update which revealed that pre-tax loss had widened and was better than expected. They were also very honest in confessing steps they were going to take to cut back on growth plans in order to control costs more effectively ahead of Brexit. The news landed them at the top of the blue-chip index, up more than 5.0%.

Further political uncertainty surrounding Brexit also carried out a fair share of damage on sterling, which is now back to the same levels versus the dollar as in January. Towards the end of the trading day sterling was down more than 0.5% at $1.2727.

The FTSE 100 had a fairly difficult day today too, again, largely due to Brexit. The main headline on Friday afternoon regarding Brexit was the cancelled cross-party talk with Labour, which both parties blamed each other for of course.

At the end of the day the FTSE 100 closed almost flat, 0.07% lower at 7348.62.

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