easyJet, Lok'n Store and Millennium & Copthorne Hotels
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“The FTSE100 opened lower and ahead of this week's interest rate decision from the Bank of England,” says AJ Bell Investment Director Russ Mould.
“Budget airline easyJet was an early riser after it confirmed it had agreed to buy part of failed airline Air Berlin’s operations for €40m. easyJet will lease up to 25 A320s and has started a recruitment campaign to attract around 1,000 Air Berlin pilots and cabin crew. The deal will make easyJet the leading airline in Berlin with services from Tegel Airport being added to those from its existing base at Berlin Schonefeld. easyJet will operate a reduced timetable at Tegel during the winter but plans to operate a full schedule from next summer. easyJet’s shares were up by over 1.1%.
“Storage group Lok'n Store shares rose after strong revenue and earnings growth and its sixth successive year of a substantial increase in its dividend. The group has created a strong platform for rapid growth having secured an increase in its new store pipeline to 11 stores which will add around 45% more space to its operation over the coming years. Lok'n Store’s shares were up by more than 3.4%.
“Millennium & Copthorne Hotels’ shares edged higher after it reported a 19.6% increase in third-quarter profits. In constant currency, revenue for the first nine months increased by 4%, which was mainly due to newly refurbished hotels and new property added to the portfolio. The group’s shares were up by over 0.4%.”
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