FTSE 100 Index News

The London stock market was lifted by the performances of their airlines today after easyJet, the no-frills carrier, released record profits whilst oil prices started to decline.

With heavy losses from the last two sessions, the FTSE 100 Index recovered to push ahead 19.4 points at 4753.5 by mid-morning.

With a three-day losing streak, British Airways luck changed with the announcement that crude oil prices were retreating back from the $50 a barrel mark due to their soaring fuel bills. Investors would have been pleased to hear shares in BA rose 1.25p to 218.75p as well as their second-tier rival easyJet posting record profits for the year at the top end of market expectation.

With passenger numbers being 20% higher than 12 months ago, easyJet’s shares rose 9.5p to 192.75p, an increase of 5%.

With the announcement that Instinet brokerage maybe sold, media group Reuters gained 6p to 397.5p whilst financial stocks gained further ground today with Prudential rising 5.5p to 419.75p and Royal & Sun Alliance 0.5p stronger at 77..25p.

With a number of key European cities falling to raise sufficient demand, hotel group InterContinental posted a lower turnover than expected for their third quarter and consequently saw a fall in their share prices of 19.5p to 660p.

The other highlights in the FTSE 100 Index, Stanley Leisure’s merger with a Malaysian firm in the hope of developing a network of Las Vegas-style casino sites saw their shares rise up 23.25p to 446.25p.

ScS Upholstery gained 4% with a 15p increase to 366.5p with a surge in orders since October and radio group GWR slipped down with a loss of 7p a share to 235p due to the confirmation of disappointing advertising sales in the last two months.