AO World, easyJet and Joules

“The FTSE100 edged lower in early deals as sterling made minor gains on the dollar and euro ahead of Thursday’s General Election. Gold and silver prices edging up but copper and three-month industrial metals were markedly lower,” says AJ Bell Investment Director Russ Mould.

“Online electrical retailer AO World was the biggest FTSE250 faller after investors looked past its strong full-year figures and focused instead on an expected slowdown in the UK growth rate in the current first quarter. AO World’s revenues were up 17% in the year to the end of March with the group continuing to make further market share gains. But trading in the UK became more challenging in the second half following the fall in sterling after the Brexit vote. The growth rate in the first quarter is set to slow significantly against strong comparatives which were driven by changes to stamp duty at the end of March last year. AO World’s shares were down by more than 6.2%.

“Budget airline easyJet was one of the biggest FTSE100 risers after another increase in passenger numbers. The airline carried 7,512,545 passengers in May - 9.5% up on a year ago. The load factor was unchanged at 91.5%. Its figures over a 12-month period show a similar pattern with passenger number up 8.2% at 77,332,031 and the load factor increasing to 91.9% from 91.4%. easyJet’s shares were up by more than 1.1%.

“Fashion and lifestyle brand Joules was an early riser after a bullish update for the year to 28 May. The group, which listed on AIM in May last year, has seen continued strong brand momentum across all channels and product categories with revenues up 19.5% and its results are set to be comfortably ahead of previous forecasts. The group’s shares were up by more than 4.5% in early trading.”

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