Updates from easyJet and the Co-op


Just a flicker of movement from the FTSE 100 yesterday, up +0.06 points to 6,730. There was rather more movement from RSA Insurance, up +6.2% to 97.90p and Hargreaves Lansdown, up +3.4% to 1491p. Miners though took hits with Fresnillo down -4.6% and Antofagasta down -4.1%.

The Dow Jones finished at 16,425, a slip of almost 45 points.

Again, not a huge amount of corporate numbers around today as we ease into the New Year. Building materials business CRH says that seven acquisition and investment initiatives undertaken during the second half of 2013 now bring total second half year spend to €0.22bn.

These transactions, together with the acquisition of Mykolaiv Cement in Ukraine, and the purchase of Sree Jayajothi Cements Limited by its 50:50 Joint Venture and My Home Industries Limited, in India, bring total Group second half spend to €0.22 billion.

Recently CRH appointed a new chief exec, Albert Manifold. Manifold has been with the company since 1998. He replaces Myles Lee who retires after 32 years with the company.

Next, we report that the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) are to commence an investigation into the troubled state of the Co-op Bank.

There has already been an eight week inquiry by the two organisations into the near collapse of the Co-op. However this new investigation could see former managers being banned from working in the financial services industry.

The FCA and the PRA have the power to levy fines on the Co-op. Lord Myners was recently appointed to the Co-op Group board as a senior independent director.

We finish with load factor numbers from easyJet for December. The load factor for December at 87.9% replicated December 2012's figure, so no change there. Passenger numbers though climbed 3.5% to 4,490,538.

On a rolling basis for the 12 months up to December 2013, the load factor climbs to 89.3% from 88.9%, taking passenger numbers to 61,332,803 compared with 59,204,632.

easyJet says the load factor represents the number of passengers as a proportion of the number of seats available for passengers. No weighting of the load factor is carried out to represent the effect of varying flight lengths."