Easyjet soars as FTSE starts week quietly

The FTSE 100 started Easter week in quiet fashion, despite progress in Us-china trade talks helping boost global sentiment.

London’s top flight remained broadly flat, closing down just 0.19 points at 7,436.87.

David Madden, market analyst at CMC Markets, said: “Equity markets are mixed heading into the close as an absence of major macroeconomic news has left some traders unenthused.

“[US Treasury Secretary] Steven Mnuchin claimed that Us-china trade talks are making progress, and that is keeping investors happy, but not much detail was given.”

In company news, Barclays was buoyed by calls from activist investor Edward Bramson for a strategic shift, after it opposed his appointment to the board. Shares closed up 1.7p at 167.7p, after he urged the board to adopt a “more realistic and shareholder-oriented” strategy. Easyjet rose to near the top of the FTSE 100, buoyed by news that Jet Airways has failed to secure emergency funding from its lenders. Shares rose 25.5p to 1,176.5p.

Elsewhere, offices provider IWG shares surged after it announced plans to sell its Japanese office business. Shares rose 58.3p to 334p.

The pound started the week positively as currency traders took a breather from Brexit, with MPS taking an Easter break.

Sterling rose 0.4 per cent against the dollar at $1.310 at London market close, while it gained 0.2 per cent against the euro at €1.159.

Fiona Cincotta at City Index said: “Pound traders will have a well-earned break from Brexit drama driving sterling and will switch attention back towards data.”