Mining shares are leading the market higher as the weaker dollar boosts commodity prices.
But easyJet has fallen 13p to £15.11 despite a 5.7% rise in passenger numbers in May compared to a year ago. The load factor, a measure of capacity utilisation, dipped marginally from 91.6% to 91.5%.
But the airline reported 173 flight cancellations during the month, hit by a French air traffic control strike and poor weather conditions. The month also saw the Egypt Air crash which affected consumer confidence.
Among the miners Anglo American has added 46.6p to 664.5p, Rio Tinto has risen 103.5p to 1998.5p and BHP Billiton is 44.1p better at 877.7p. In all seven out of the top ten risers in the FTSE 100 are mining companies. Mike van Dulken, head of research at Accendo Markets, said:
Mining stocks are topping the FTSE100 this morning as the commodities space benefits from a weaker US dollar basket, back below the key 95 level for first time in a fortnight. The currency’s reversal of recent strength comes in response to Friday’s surprisingly weak May US jobs report that must be considered a setback for Janet Yellen and [the Federal Reserve] in terms of ability to tighten US monetary policy further this summer.
Overall the FTSE 100 is up 47.03 points at 6256.66 despite a fall in sterling on growing Brexit fears, as new polls show the Leave campaign in the ascendency. Housebuilders have also been hit by concerns about the referendum result, with Berkeley Group down 50p at £31.89 and Barratt Developments down 7p at 571p.
