Reckitt Benckiser, Foxtons and Flybe

“Blue-chips opened higher ahead of unemployment and earnings data, while overseas markets were mixed overnight,” says AJ Bell Investment Director Russ Mould.

“Reckitt Benckiser was one of the biggest FTSE100 fallers in early trading after like-for-like net revenues fell in the third quarter. The group continues to count the cost of a cyber attack which disrupted distribution and a generally challenging market environment. The cyber attack meant the group lost shelf space and promotional slots with a consequent loss of sales. Reckitt Benckiser’s shares were down by over 1.3%.

“London estate agent Foxtons topped the FTSE All-Share board despite a fall in third quarter revenues. Investors were heartened by the group’s resilient performance set against the challenging conditions in the capital’s property market. Foxtons has continued to manage its cost base and cash flow remained strong during the quarter, supporting a strong balance sheet with no debt. The group’s shares were up by over 6.8%.

“Flybe’s shares nosedived after the group warned that profits would be hit by higher than expected aircraft maintenance costs. Flybe has been reviewing its maintenance strategy as part of a drive to improve the reliability of its aircraft. Flybe’s shares were down by more than 15.6%.”

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