FTSE opens flat and continues to trade sideways this morning as investors exercise caution after data released in China and Europe earlier sends mixed signals. China PMI (Purchasing Managers Index) suprised slightly to the downside, failing from 50.5 to 49.6 this month – analysts had expected this figure to come in around 50.4. PMI figures for Europe though were ahead of analyst expectations showing the latest figures have risen from 52.1 to 53.2. Surpassing the expected figure of 52.5 forecast.
Publishing firm ,Pearson (PSON.L) is a heavy faller this morning after admitting that performance for 2013 was weaker than expected. Chief Executive John Fallon said “With trading conditions still challenging in 2014, this further underlines the importance of the work we started in 2013 to reduce our established cost base and redirect our investment towards our biggest future growth opportunities,”. Trading was weakest in North America and the company now plans to drive sales in emerging markets and digitally.
Easyjet (EZJ.L) fell despite announcing a growth in Q1 revenue and increased passenger numbers. The company released guidance of an increased loss of between 70 and 90 million pounds for the half year, and increase on the 61 million pound loss reported the same period last year. “EasyJet has made a good start to the year. The performance in the quarter demonstrates our continued focus on cost, progress against our strategic priorities and easyJet’s structural advantage in the European short-haul market,” chief executive Carolyn McCall said in a statement.
The supermarkets are all taking a hit this morning, with Tesco, Morrisons and Sainsburys all amongst the fallers.
FTSE opens flat and continues to trade sideways this morning as investors exercise caution after data released in China and Europe earlier sends mixed signals. China PMI (Purchasing Managers Index) suprised slightly to the downside, failing from 50.5 to 49.6 this month – analysts had expected this figure to come in around 50.4. PMI figures for Europe though were ahead of analyst expectations showing the latest figures have risen from 52.1 to 53.2. Surpassing the expected figure of 52.5 forecast.
Publishing firm ,Pearson (PSON.L) is a heavy faller this morning after admitting that performance for 2013 was weaker than expected. Chief Executive John Fallon said “With trading conditions still challenging in 2014, this further underlines the importance of the work we started in 2013 to reduce our established cost base and redirect our investment towards our biggest future growth opportunities,”. Trading was weakest in North America and the company now plans to drive sales in emerging markets and digitally.
Easyjet (EZJ.L) fell despite announcing a growth in Q1 revenue and increased passenger numbers. The company released guidance of an increased loss of between 70 and 90 million pounds for the half year, and increase on the 61 million pound loss reported the same period last year. “EasyJet has made a good start to the year. The performance in the quarter demonstrates our continued focus on cost, progress against our strategic priorities and easyJet’s structural advantage in the European short-haul market,” chief executive Carolyn McCall said in a statement.
The supermarkets are all taking a hit this morning, with Tesco, Morrisons and Sainsburys all amongst the fallers.
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