25th July 2014
The FTSE 100 surged back through the 6,800 barrier in yesterday's online trading, with strength from banks and holiday firms helping the London index.
That said, it was media group Reed Elsevier that led the FTSE, with strong underlying trends improving profits to the tune of five per cent in the first six months of the year. Banks were supported by upbeat comments from Fitch, while IAG's Iberia airline has agreed terms with unions to make a number of redundancies.
However, there wasn't good news for all travel firms in online trading yesterday, with easyJet feeling the wrath of the markets after only posting a 14 per cent increase in profits, at the lower end of the estimated range. Kingfisher was bottom of the shop after seeing like-for-like sales go into the red in the second half of the year.
Looking at possible movement today and it's worth keeping an eye on BSkyB following its £5 billion deal to take over sister companies in Germany and Italy. By relieving Fox of the channels, it could allow Rupert Murdoch to make another offer for Time Warner. At the close yesterday, the FTSE 100 sat at 6,804 points.
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