FTSE LIVE: Pound falls to two-year low; Sports Direct shares plummet after results bungle; Ryanair profits plunge; Just Eat to merge with Takeaway.com
- FTSE 100 has risen more than 1.6% to above 7,600 level
- The pound has fallen to its lowest level since March 2017 to $1.23
- Just Eat and LSE shares higher after separate takeovers talks are confirmed
The FTSE is in the green in early trading on Monday
Sports Direct shares have plummeted as the new trading week gets underway following Friday’s results bungle. After a full day of waiting, the retail group finally revealed it had been hit with a £605m tax bill in Belgium after the stock market had closed.
Elsewhere, Ryanair has reported a plunge in profits as the budget airline struggles with higher fuel and staffing costs, while takeaway service Just Eat has confirmed plans to merge with Netherland-based rival Takeaway.com.