30/06/14 Market Movements

Market news

The FTSE100 closed down 13.83 points at 6,743.94 as budget airline EasyJet felt the effect of a broker downgrade.

EasyJet fell 6.44%, making it the worst-performing FTSE 100 stock in percentage terms after Bank of America Merrill Lynch cut its rating from “Neutral” to “underperform”.

Bank of America Merrill Lynch said declining earnings were expected to put pressure on easyJet’s shares, this news also damaged rival airline International Consolidated Airlines Group which fell 3.5%.

The best FTSE performer of the day in percentage terms was gold and silver mining company Fresnillo which closed up 1.99% as it benefited from the price of gold staying near a 2 month high.