The Guardian 04/12/19

easyJet (EZJ) has landed back in the FTSE 100, following a quarterly reshuffle of the leading City share index. The budget airline has regained its membership of the club six months after its relegation. The carrier had been expected to return to the benchmark index despite a turbulent year in which it struggled with rising fuel prices and economic uncertainty around Brexit. But the airline’s share price was boosted in recent months by rising passenger numbers, the addition of more aircraft and tougher action on costs. EasyJet’s closing price on Tuesday was £13.07, up 18% on the year, which was enough to confirm its return to the UK’s biggest stockmarket index. The carrier has also benefited from problems at its competitors, from the collapse of Thomas Cook Airlines to strikes at Ryanair and British Airways. EasyJet has been promoted at the expense of insurer Hiscox Limited (DI) (HSX), which was demoted to the FTSE 250 after its share price fell by 17% this year. The Bermuda-based specialist insurer has been hit by an increase in claims for damage from large storms and typhoons in the US, the Caribbean and Japan. Its share price slid after the release of a trading update last month, when the firm announced it was setting aside extra money to cover claims from extreme weather events.