EasyJet set to be ejected in FTSE's quarterly reshuffle this week
EasyJet is on course to dive out of the FTSE 100 this week, as part of the index’s quarterly reshuffle. The airline has seen its value decline by 40% over one year and issued a profit warning last month, sending its shares down 9% on the day. The firm blamed a larger than expected impact from sterling weakness for an anticipated GBP105m hit on earnings. One stockbroker said in a note: “EasyJet is maintaining its aggressive capacity plans with little scope for cost efficiencies while operational issues are addressed and fuel ticks up. Adverse foreign exchange is likely to keep consensus under pressure.” An analyst said: "The group has seen its share price remain under pressure since the Brexit vote, as the market highlighted concerns over future contracts and their length, which has dropped from an average of 8 years to 7.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-27/unaligned/easyjet-set-to-be-ejected-in-ftses-quarterly-reshuffle-this-week
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EasyJet set to be ejected in FTSE's quarterly reshuffle this week
EasyJet is on course to dive out of the FTSE 100 this week, as part of the index’s quarterly reshuffle. The airline has seen its value decline by 40% over one year and issued a profit warning last month, sending its shares down 9% on the day. The firm blamed a larger than expected impact from sterling weakness for an anticipated GBP105m hit on earnings. One stockbroker said in a note: “EasyJet is maintaining its aggressive capacity plans with little scope for cost efficiencies while operational issues are addressed and fuel ticks up. Adverse foreign exchange is likely to keep consensus under pressure.” An analyst said: "The group has seen its share price remain under pressure since the Brexit vote, as the market highlighted concerns over future contracts and their length, which has dropped from an average of 8 years to 7.” <br/>
