By Ian Walker
EasyJet is expected to rejoin the FTSE 100 index after a near four-year absence and replace Endeavour Mining in next week’s regular quarterly reshuffle, according to indicative data from FTSE Russell.
The budget airline has seen its share price soar more than 34% over the past three months as it benefits from increased travel demand. On Jan. 24, easyJet said it expects to report a narrowed loss for the first half of fiscal 2024 on the back of higher summer bookings.
For the first quarter of the fiscal year, which ends around Sept. 30, the company reported a 22% rise in revenue and said it carried 14% more passengers.
Its share price is currently trading around 558.20 pence, giving the company a market capitalization of 4.23 billion pounds ($5.34 billion).
EasyJet fell out of the top index in June 2020 having been a member for just six months. This will be its third stint in the top flight.
Endeavour, on the other hand, has seen its share price fall 24% over the past three months. Shares in London are currently trading around 1,314.0 pence, valuing the company at GBP3.22 billion. It has been in the index since March 2022.
The indicative data is based on the companies’ closing prices on Feb. 16.
The changes will be outlined after the market closes on Feb. 28, based on the companies’ closing share prices the day before.
The FTSE 100 is a share index of the 100 most highly-capitalized companies listed on the London Stock Exchange. Any company that falls to 111th and below is automatically ejected from the top-flight index, while any firm that rises to 90 or above is automatically promoted.
Write to Ian Walker at ian.walker@wsj.com
