The FTSE 100 made a decent start helped by rises for airlines led by British Airways owner IAG and easyJet though the distraction of England’s Euro 2024 semi-final tonight is likely to loom large.
Underlining its significance, pub chain Wetherspoons reported record revenues with sales up 5.8% in the past ten weeks and presumably helped by England’s run. Sales per pub were 21% higher than pre-pandemic levels said boss Tim Martin.
Overall, the index was up around 27 points at 8,167 despite a poor showing from all the housebuilders after a downbeat trading statement from Barratt. The Footsie listed group reported lower sales and selling prices in the year just ended while adding that completions will fall again in the current year to around 13,000 from 14,000.
Direct Line meanwhile committed to paying out around 60% of post-tax operating profit as a dividend, “with any additional capital returns to be reviewed annually alongside our full-year results”. Shares in the insurer rose by 1%.