Thursday, 16th April: Reporting a half-year trading update on Thursday morning was easyJet, for the six months ending 31st March 2020, prior to any negative impacts from Covid-19. Revenue during the period was up 1.6% and seat capacity was down 7.6%, the group also predict a headline pre-tax loss of between £185 million and £205 million, a decent improvement from the £275 million loss in the prior interim period. The update allowed the airline to climb circa 1.5% around midday on the FTSE 100.
Barratt Developments also released an update on Thursday which the market welcomed with open arms as they were up more than 6.0% in the afternoon, regardless of the guidance which anticipates “very limited” new home sales and the announcement that 85% of staff have been furloughed.
The real winner on the blue-chip index today was Evraz, up more than 7.0% in the afternoon and at the top of the index following their own Covid-19 update which revealed the group are having “no significant issues” with regards to raw material production or supply.
In the afternoon, GBP/USD was down circa 0.15% to $1.25031, and GBP/EUR was up 0.13% at €1.1496, and Brent crude oil was up 1.41% at $28.08 per barrel.
At the end of the day, the FTSE 100 was up by 0.55% to 5628.43 and the FTSE 250 was up 0.44% to 15415.3.