EasyJet will return to the FTSE 100 index next week, almost four years after the airline dropped out during the pandemic.
Since mid-October, the share price of this airliner has increased by over half as a result of higher demand, higher prices and lower fuel prices.
The company, in a trading update covering the last three-months of 2023 reported a 14 percent passenger growth on an annual basis despite the Israel/Gaza conflict that began in early October and temporarily slowed down flight bookings in the industry.
Even after the increase, shares of the company remain below the pre-pandemic level as it is facing competition from Ryanair and Wizz air.
In the quarterly reshuffle, the company will replace Endeavour mining which is scheduled to be demoted from the blue chip index to the FTSE 250. According to FTSE Russell’s indicative results based on the closing price of Tuesday night, this is what happened.
Shares of the gold mining company with a focus on Africa have dropped by almost a third in the past year, following the dismissal its former CEO Sebastien De Montessus, amid allegations of misconduct, which he has denied.
EasyJet’s market capitalisation was £4.2 billion at the close of Tuesday’s markets, while Endeavour Mining had a value of £3.1 billion.
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