LONDON -- So the USA didn't disappear down a fiscal black hole and blink out of existence after all. That unsurprising outcome led the FTSE 100 to a 136-point recovery to finish the week at 6,623, for its first close above 6,600 points since September 19 -- it's almost as if a few weeks of short-term panic really don't make any difference in the long run!
Investment firm Hargreaves Lansdown put in the FTSE 100's biggest rise of the week, gaining 144 pence (14.5%) to 1,137 pence after assets under management reached record levels at the halfway stage. The rise, of 2.9 billion pounds to 39.3 billion pounds, comprised a net inflow of 1.26 billion pounds and a further growth in asset values. The company now has a total of 528,000 active clients, who helped it to revenues of 77.9 million pounds in the second quarter, up from 68.7 million pounds in Q1.
Shares in budget airline easyJet have been on the up again after an upbeat trading update on Oct. 3, with the price picking up 88 pence (6.9%) last week to end Friday at 1,360 pence. For the full year, capacity is expected to have grown by about 3.3% with revenue per seat up 6%, after July and August brought strong demand. The company has refined and lifted its pre-tax profit guidance, from an earlier range of 450 million to 480 million pounds to now 470 million to 480 million pounds.
Fashion chain Burberry was hit by the news that chief executive Angela Ahrendts has been lured away by a new position at Apple and will be leaving by mid-2014. Ahrendts, who is to be replaced by Burberry's chief creative officer, Christopher Bailey, is widely credited with the company's resurgence in recent years. News of a 14% rise in first-half revenue with 13% comparable-store growth was not enough to soften the blow, and Burberry shares fell 78 pence (4.9%) to 1,527 pence.
William Hill shares have been a bit erratic since the bookmaker released a mixed third-quarter update on Oct. 3, and lost 8.7 pence (2.1%) this week to close at 403.5 pence. Although amounts wagered showed some nice improvements and net Q3 revenue grew by 10%, results went the punters' way during the period, and operating profit fell by around 24 million pounds, or 31%.
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The article FTSE Shares That Soared and Plunged This Week originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool recommends Apple and Burberry Group and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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