FTSE 100 movers: easyJet hits turbulence; Ashtead up on US peer news

Travel stocks easyJet, IAG and TUI led the FTSE 100 fallers as Turkey declared a state of emergency. EasyJet also reported a drop in revenue per seat and total revenue for the third quarter amid difficult trading that was hit by the terror attack in Brussels and the EgyptAir tragedy.

For the quarter ended 30 June, easyJet's total revenue per seat was down 8.3% at constant currency or 7.7% on reported basis to £54.54, while total revenue fell by 2.6% to £1.196bn as increased seat capacity was offset by the impact on yield of overall market capacity and cancellations as a result of external events.

EasyJet said its commercial and operational performance was affected by the Brussels attack and Egyptair tragedy, air traffic control strikes and congestion, runway closures at Gatwick airport and severe weather leading to 1,221 cancellations.

Shares in Ashtead topped the FTSE 100 as investors read across from the results of US-based sector peer United Rentals, which reported slightly improved quarterly results overnight.

With Ashtead's US-focused Sunbelt providing the bulk of group sales, it was significant that Connecticut-headquartered United Rentals retained its full year outlook, with management reaffirming revenue, operating profit, capital spending and free cash flow guidance for 2016.

Mining stocks rebounded from the previous day’s drop with Anglo American, Glencore, Antofagasta and BHP Billiton in the black.

Market Movers

FTSE 100 (UKX) 6,698.46 -0.45%

FTSE 100 - Risers

Ashtead Group (AHT) 1,172.00p 3.90%
Glencore (GLEN) 181.00p 2.72%
Antofagasta (ANTO) 494.20p 2.34%
Burberry Group (BRBY) 1,321.00p 2.24%
Rio Tinto (RIO) 2,388.50p 2.12%
BHP Billiton (BLT) 944.90p 2.00%
ITV (ITV) 191.40p 1.97%
Anglo American (AAL) 787.70p 1.72%
Whitbread (WTB) 3,721.00p 1.64%
Old Mutual (OML) 203.70p 1.04%

FTSE 100 - Fallers

easyJet (EZJ) 1,057.00p -6.21%
International Consolidated Airlines Group SA (CDI) (IAG) 405.70p -3.57%
Sky (SKY) 868.00p -3.50%
BT Group (BT.A) 379.80p -2.47%
Hikma Pharmaceuticals (HIK) 2,534.00p -1.78%
TUI AG Reg Shs (DI) (TUI) 933.00p -1.74%
Direct Line Insurance Group (DLG) 342.20p -1.67%
3i Group (III) 586.50p -1.59%
Marks & Spencer Group (MKS) 330.40p -1.49%
DCC (DCC) 6,715.00p -1.47%