EasyJet & Hikma Get The Boot

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Wednesday, 5th June: In the latest quarterly re-shuffle of the FTSE 100, news surfaced that easyJet and Hikma would be taken off the prestigious blue-chip index.

EasyJet has been a member of the index for around six years, and Hikma since Christmas 2018, which was the pharma companies’ second shot at being a member, the first being in 2015.

The final decision on the re-shuffle will be announced on Wednesday after the market closes, and the two contenders who are in lien to replace the ones leaving are JD Sports Fashion and Aveva.

Following a positive update from the services sector in the UK, the pound reached a nine-day high of $1.2729. The data on the sector revealed an upbeat increase in new work for the first time in five months.

On Monday and Tuesday, the FTSE 100 started the day negative but managed to close positive. This trend reversed today, as the index started positive and gradually started to decline in the late afternoon, but they managed to prevent themselves from closing in red territory. At the end of the day the index was only 0.08% higher at 7220.22.

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