FTSE Reach 10-Month High


Wednesday, 3rd July: Previously known as Paddy Power Betfair, the newly re-named Flutter Entertainment was up more than 11.0% at the top of the FTSE 100 surrounding speculation of a buyout, which there has been no confirmation of. The rumours sent the shar price back to highs previously seen in January of this year.

The FTSE 100 was having a pretty decent day itself, by the end of the day only around 12 of the stocks within the index were trading in red whilst the remainder were in green. The index also reached a 10-month high after the market received a hint that the Bank of England was going to carry out an interest rate cut.

JD Sports released a positive trading update today which revealed that they were on track to achieve annual profit for fiscal 2020 which will be at least in line with expectations, thanks to the ongoing attraction in athleisure trends.

At the end of the day, the FTSE 100 and 250 were both up 0.66% and 0.67% at 7609 and 19,790 respectively.

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