Blue Chip Struggles To Close In Green

Monday, 4th May: The blue-chip index started the first full week of May in red over further uncertainty surrounding China’s knowledge of the virus, and as President Trump continued to criticise their management and approach in containing it. One of the biggest fallers of the day was easyJet, over concerns of the budget airline going bust by the year-end which was voiced by the founder, Stelios Haji-Ioannou, who also continued to criticise the four board members for their decision-making and has called for them to be ousted. The continuous bad news surrounding the airline placed them more than 9.0% lower on the index at mid-day at around £5.16, lows last seen in June 2012.

The stocks at the bottom of the mid-cap index included the likes of; Marston’s, Mitchells & Butlers, Cineworld and Hyve Group following the news that pubs and cinemas are to be the last of those to re-open when the lockdown gradually lifts. Hyve in particular suffered on Monday and were at the very bottom of the FTSE 250 in the afternoon by more than 10.0%.

The general lack of any noteworthy news on the FTSE 100 allowed the index to reverse most of the morning losses but not all of them, as the index fell at the end of the day by 0.16% to 5753.78.

The FTSE 250 had a more difficult start to the week and closed 1.22% lower at 15951.70.

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